You use this program to calculate and optionally update the local equivalent balances of foreign currency suppliers. This is required when fluctuating currency exchange rates cause inaccurate outstanding invoice values.
This program enables you to restate the value of outstanding foreign currency supplier invoices (where a fixed exchange rate was not applied) at a revised exchange rate and update GL accordingly with the currency variance. You typically do this to meet statutory requirements that require you to restate your debt at a realistic rate of exchange at reporting dates (i.e. when you prepare your Balance Sheet).
| Field | Description |
|---|---|
| Start Processing | Generates the revaluation process according to the selections you made. |
| Save Form Values | This option is only enabled in Design mode (Automation Design). Your selections are saved and applied when the
program is run in automated mode. Form values and defaults are applied at operator level. They are not saved at role or group level. |
| Field | Description | ||||||
|---|---|---|---|---|---|---|---|
| Options | |||||||
| Report Options |
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| Use invoice branch | Filters the invoices by invoice branch (i.e. the AP
branch defined against the invoice). Invoices are filtered according to the AP Branch defined against the supplier when this option is not enabled.
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| Branch selection | Indicate the supplier branch(es) to include in the calculation. | ||||||
| Currency selection | Indicate the currency(ies) for which to process the calculation. | ||||||
| After processing completed |
These options are displayed within programs that can be automated. They enable you to indicate the action you want to perform once processing is complete (see Automation Design). |
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![[Note]](images/note.png)
This pane displays the results of the processing function you selected once processing is complete (unless you selected the option to close the application from the After processing completed section).
Before running the report, you need to:
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enter the buying exchange rate for each foreign currency to be revalued (Currencies).
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ensure all payment cycles for the currency(ies) to be revalued are complete (Payment Cycle Maintenance).
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preferably define the interface ledger accounts by branch/currency for the revaluation of outstanding foreign currency customer invoices using the AP Currency Variance GL Interface program.
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The balances in the GRN suspense file/tables that relate to foreign payables are not revalued by the revaluation program.
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Currencies defined with a fixed exchange rate are excluded (in accordance with IAS 39 which applies to hedge accounting for foreign currency items).
If you set the currency to Fixed, then it is assumed that you have applied a hedge against the currency (e.g. you have taken foreign exchange cover). Transactions with a fixed exchange rate are therefore not revalued for the purposes of financial reporting, but are reported at the rate of the hedge.
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The currency variance is calculated as: (Currency rate of invoice when captured - Current currency rate) x Invoice balance
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A new journal is created for each 999 lines revalued.
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When running the report in Report and update mode, exchange rate variances resulting from the revaluation are posted to the Unrealized variance ledger account defined in the AP Currency Variance GL Interface program (General Ledger Integration - Variance Interfaces).
A warning message is displayed if no Unrealized variance account is defined. If you select to continue, then the variances are posted to the Exchange variance account defined against the supplier's bank (Banks).
The Realized variance ledger account defined in the AP Currency Variance GL Interface program is used when running SYSPRO in a C-ISAM environment.
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Exchange Variance = [Round to 2 decimals(new rate * invoice balance amount)] - [Round to 2 decimals (original invoice rate * invoice balance amount)]
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To ensure all the report details are clearly displayed when printing the report in a portrait layout, you can drag all columns off the listview except for the Bank details, Supplier details and Transaction details. These 3 columns contain the report details in a format more appropriate for the portrait layout.
Inserting Application Help
You would typically follow this procedure to display help for the current program in a customized pane that can be pinned to the program window.
Information includes step-by-step instructions for the various functions available within the program, including a brief overview of what the program does, what setup options are required and how to personalize the program.
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Open the program for which you want to insert application help into a customized pane.
This functionality is only available for a program that has panes.
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Right-click any form field.
You can also click the triangle menu icon that appears in the title area of a pane.
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Select Insert Application Help from the context-sensitive menu.
The application help appears in a pane within your program. You can reposition the pane using the docking stickers or pin it to the program window.
Removing the Application Help pane
If you no longer want to display application help in a pane for your current program, you can simply remove it.
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Select the Close icon in the right-hand corner of the application help pane.
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Confirm that you want to delete the pane.