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| Enabled for | Public preview | General availability |
|---|---|---|
| Users, automatically | 
Mar 1, 2024 |
Apr 1, 2024 |
Business value
With the new setup on the G/L account card, you can run G/L revaluations for accounts with transactions in foreign currencies. This feature helps you generate a more accurate financial statement without keeping separate spreadsheets.
Feature details
If you use general ledger accounts to register balance sheet items in foreign currencies, you often need to revalue the balances before you create financial statements for your business.
Previously, most businesses used either a bank account or a vendor account to register and track these assets and transactions. To use this method, businesses kept the bank or vendor account separate from other accounts and maintained an expanded setup for posting groups.
The G/L Revaluation feature simplifies revaluations. For a general ledger account, you can select the account for revaluations. You can also select if only specific currencies can be posted to the G/L account. The system validates this setup when you post to the account. For each account, you can select whether to post revaluation adjustment entries as unrealized or realized gains and losses. This choice depends on the type of assets you track. When you post gains and losses during a currency exchange rate adjustment, you follow the normal posting routine. For example, you post gains and losses as specified in the setup for each currency.
Each general ledger entry includes the source currency code and the source currency amount as new fields. You use these fields for reference or in G/L account revaluations.
The G/L Currency Revaluation action starts a batch job for revaluations. You can find this action on the Chart of Accounts page. The batch job creates adjustment entries in a journal that you select. When you post the entries, you adjust the local currency (LCY) balance on the G/L account. With G/L account revaluations, you revalue G/L account balances that always show in LCY. This step updates the balances in LCY to reflect changes in the currencies where you posted entries. This revaluation step helps you produce a more accurate financial statement with little effort.
If you use an additional reporting currency (ACY), the G/L revaluation entries include an ACY amount. This amount corresponds only to the LCY amount on these entries, not to the ACY balance on the G/L account. If you adjust the ACY rates after you post the adjustments, run the currency exchange rate adjustment process again to adjust all G/L entries.
We separate the batch jobs because they're two different things: adjustments versus new entries.
Note
The G/L Revaluation feature might not meet all requirements for transaction and asset registrations that require revaluation. For example, it might not meet requirements for financial instruments, securities, leased assets, or if you use it for specific or large volumes of transactions or assets. We recommend that you discuss with your auditor whether you can use the feature.
Note
The feature doesn't provide the ability to apply or unapply entries. You make adjustments on a balance-per-currency basis.
Geographic areas
Visit the Explore Feature Geography report for Microsoft Azure areas where this feature is planned or available.
Language availability
Visit the Explore Feature Language report for information on this feature's availability.
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