Create a New Journal Entry then under the Document type, select Unrealised Gain/Loss.
Fill up the necessary fields and click Save & Add Line.
You can automatically generate the Unrealised Gain/Loss calculations with either only posted entries or both drafted and posted entries.
Click on Generate with posted entries or Generate with posted and drafted entries.
*Note: - To create an unrealised gain/loss entry, make sure you do not already have an active unrealised gain/loss entry. If there is a posted unrealised gain/loss entry, reverse the entry to create a new one. If there is a posted unrealised gain/loss entry, delete or reverse the entry. - Also make sure there is/are journal entry(ies) with FX transaction(s) and the currencies settings are completed.
Generating a realised gain/loss entry by reconciling AR/AP lines in FX
From the General Ledger under a Vendor/Customer Account, select the journal entry lines with foreign currency to reconcile.
Under Actions, click on Reconcile AR/AP.
There will be a prompt to inform that a Unrealised Gain/Loss entry will be generated to balance the journal entry.
Click on Generate Entry.
Reversing an unrealised gain/loss entry
Under the Actions menu, click on Reverse.
Select if the reversal entry is based on the original entry’s date or today’s date.
Click on Generate Reversal Entry.
Generating Carry Forward
Go to Manage my companies at the top right corner.
Click on the ellipses and from the menu, select Manage fiscal calendar.
Click on the ellipses of the Fiscal year you want to generate the carry forward, and from the menu select Carry Forward.
Select the account the carry forward should be generated with and click on Create Entry.
*Note: -Balances are calculated based on both posted and drafted entries when carry forward entry is generated. -Generated carry forward entry will be created in draft status. If the fiscal year which the carry forward entry is generated from is closed, the carry forward entry will be posted.
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