Bank revaluation

When exchange rates change, the base-currency value of money held in foreign-currency bank accounts changes too. Bank revaluation updates that value to the current rate and posts the difference as an exchange gain or loss.

Go to Bank › Bank Revaluation.

Revaluing

1. Choose the Revaluation Date, usually the end of a month or year.
2. The page lists every foreign-currency bank account with:
   • Balance in the account's currency
   • Book Value in the base currency (what your books say now)
   • Book Rate, the rate the book value works out to
   • Revaluation rate, the rate effective on that date (from Settings › Currency Setting)
   • Revalued value and the Gain / Loss
3. Check the Total gain / loss and click Post Revaluation, then confirm. Revaluation vouchers are posted at once, so this needs the approve permission for bank transactions.

One revaluation voucher is posted per account whose value changes, in the base currency only: the bank account goes up or down, and the difference goes to the exchange gain/loss account.

Add the rate for the revaluation date first in Currencies.

Correcting a revaluation

A revaluation can't be edited. Delete it on Bank Transactions (type Revaluation) and run the revaluation again.

If you have no foreign-currency bank accounts, the page says so; only foreign-currency accounts can be revalued.