YAMAHA DISTRIBUTORS
AR EXCHANGE RATE
REVALUATION
SYSPRO
VERSION 6.1 SP1
Copyright 2013 EOH Applications
Published: 31/07/2013
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Table of Contents
PURPOSE .......................................................................................................................... 3
OBJECTIVES ..................................................................................................................... 3
SCOPE ............................................................................................................................... 3
PROCESS FLOW ............................................................................................................... 3
AR EXCHANGE RATE REVALUATION ............................................................................ 4
Currencies .......................................................................................................................... 5
Report Only ......................................................................................................................... 7
Report and Update............................................................................................................ 11
AMENDMENTS ................................................................................................................ 14
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Purpose
This manual details the process to Revalue Exchange Rates.
Objectives
By the end of this module, the learner will be able to Revalue Exchange Rates.
Scope
This manual is applicable to the Debtors Finance Department.
Process Flow
Syspro Menu > Accounts Receivable > AR Exchange Rate Revaluation
Note: If at any stage when working within Syspro a full description of any field is needed,
click in that field and then press ‘F1’. A full description and explanation will then be
displayed on the screen.
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AR Exchange Rate Revaluation
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You use the AR Exchange Rate Revaluation program to calculate and optionally
update the local equivalent balances of foreign currency customers. This is
necessary when fluctuating currency exchange rates result in inaccurately
reflecting the value of outstanding invoices.
This enables you to restate the value of outstanding foreign currency customer
invoices (where a fixed exchange rate was not applied) at a revised exchange rate
and update the General Ledger accordingly with the currency variance. Currencies
defined with a fixed exchange rate (Currencies) are ignored by the AR Exchange
Rate Revaluation program.
You would 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).
Before running the AR Exchange Rate Revaluation program, you need to use the
Currencies program to enter the required exchange rate in the Selling exchange
rate field for each foreign currency you want to revalue.
In addition, you should have used the AR Currency Variance GL Interface program
to define the interface ledger accounts by branch/currency for the revaluation of
outstanding foreign currency customer invoices.
If you do not define these interface accounts, then all currency exchange variances
are posted to the Exchange rate variance account defined on the Receivables tab
of the General Ledger Integration program.
The AP and AR exchange rate revaluation programs are typically run at month end after a
day end procedure has been run.
If required you may need to change the company date to the last day of the month which
you processing. File > Company Date
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Currencies
Select Accounts Receivable > Setup > Currencies
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Select currency you wish to revalue, update buying and selling exchange rates and select
Save
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Report Only
Select Accounts Receivable > Transaction Processing > AR Exchange Rate Revaluation
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Select this to perform the revaluation calculation without generating the entries to update
the General Ledger.
This enables you to check the results of the calculations before actually performing the
update.
You can run the AR Exchange Rate Revaluation in report mode as often as required.
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Select Printer you wish to print to
Click on Print
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The report will show the change that will be performed when running the report and
update function.
Select to Print Report Only.
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Report and Update
Select this to generate the revaluation process according to the selections you made.
The currency variance is calculated as:
(Currency rate of invoice when captured - Current currency rate) x Invoice balance
Currencies defined with a fixed exchange rate (Currencies) are excluded by the AR
Exchange Rate Revaluation program.
If you set the currency to fixed, 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.
If you are satisfied with the required changes from the Report only selection the proceed
to select option to Report and update.
Select this to perform the revaluation calculation and to generate the entries to update the
General Ledger.
Select Single Currency and Click on Print
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Select Printer you wish to print to and Click on Print
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Select to Print Report and Update
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Amendments
Date:
Revision Number
Amendment
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