What does the General Ledger Foreign Currency Revaluation module by Advantage Business Systems do?

As many of you already know, when it comes to the month-end or year-end process, accounting conventions dictate that general ledger account balances reported in foreign currencies need to be revalued through the use of different exchange rate types.
To put this into context with a scenario, one accounting convention requires assets and liabilities to be revalued at the current exchange rate, fixed assets at the historical exchange rate & profit & loss accounts with the monthly average. This is where our brand-new General Ledger Foreign Currency Revaluation module is able to be used to revalue both the balance sheet and profit and loss accounts of your business.
Revaluations can be posted as realised or unrealised.

What are the benefits of this module for your business?

Greater Accuracy
Through this module, you will be able to increase the accuracy of your reporting & data as the revaluation will be automatically calculated using a favourable exchange rate over an estimate which could reduce the levels of accuracy.

Increased Efficiency
With this module in place, you will see a boost in your overall day to day efficiency as you won’t need to complete the currency revaluation manually which will allow you to focus on other more important tasks for the business.

G/L Revaluation

by Advantage Business Systems