About Currency Revaluation and Translation

Currency Revaluation and Translation can be run independently or at the same time depending on your requirements.

Note:
You should only run Translation independently if the document and home currencies are the same, for example, EUR and EUR. If you have documents in currencies other than the home currency, you should run Revaluation and Translation together.

Currency Revaluation

You might want to perform a currency revaluation (CRV) in the following situations:

• At period end. You might want to revalue your income statement to eliminate the effect of exchange rate fluctuations.
• At year end. You might want to revalue the company’s balance sheet so that it values the assets and liabilities of the company at the exchange rates applicable on the balance sheet date.

You can revalue special periods, with some restrictions:

• If you are revaluing income statement data, only the opening period Period 000 can be revalued.
• If you are revaluing balance sheet data, both Period 000 and 100 can be revalued.

Currency Translation

You might want to perform currency translation in the following situations:

• At period or year end you need to consolidate and report your financial results in a presentation currency i.e. a currency that is not your home currency.
• You are part of a Group of Companies who consolidate and report their financial results in a common presentation currency.

Note: If the Reporting Currency feature is enabled in your org, you can perform currency translation to reporting using your selected reporting currency The currency, other than Home or Dual, that a company uses to report to a higher intermediate company within your organization's hierarchy. other than the dual currency The currency in which your corporate headquarters reports financial statements. This defaults to, and is normally the same as, the corporate currency.. For more information, see About Reporting Currency.

Currency Revaluation and Translation Process

This is the currency revaluation and translation process:

1. Create a currency revaluation template.
2. Create a currency revaluation criteria.
3. Select the template.
4. Retrieve and review the company currency combinations and transactions.
5. Generate the currency revaluation documents.
6. Review and post the currency revaluation documents.

Depending on your selection criteria, one or more CRV documents are generated. You can identify all the documents generated from a single revaluation process by their group name and description. See About CRV Groups for more information.

The Currency Revaluations tab displays a home page that lets you quickly create and locate your CRV documents.

See the related tasks and Currency Revaluation and Translation Example for more information about performing a currency revaluation.

Notes

• Do not post any documents to a period that is being revalued. Wait for the whole currency revaluation process and all related batch jobs to complete before continuing to post documents.
• You cannot perform a CRV in multi-company mode State in which the current user has more than one current company selected. Data entry is disabled until the user returns to single-company mode. Enable multi-company mode when you want to generate reports that contain data from more than one company., unless you are using currency revaluation templates in Lightning.
• You cannot perform a CRV in single-currency mode.
• Revaluation affects the home currency The main working currency of the current company. only.
• Translation affects the dual currency The currency in which your corporate headquarters reports financial statements. This defaults to, and is normally the same as, the corporate currency. and the reporting currency The currency, other than Home or Dual, that a company uses to report to a higher intermediate company within your organization's hierarchy. only.
• When transaction A record created when documents are posted to the general ledger. Transactions must balance (sum to zero) in home, dual, and document currency. lines are selected for revaluation, only those with a general ledger account set to "Allow Revaluation" are retrieved.
• If the selected analysis level is "Summary Level", the balancing entry transaction line items posted to the Revaluation Unrealized Gains/Losses GLA or Currency Translation Adjustment GLA are grouped by GLA and Dimension.
• If the selected analysis level is "Detail Level", you can choose to group the balancing entry transaction line items posted to the Revaluation Unrealized Gains/Losses GLA or Currency Translation Adjustment GLA by standard analysis fields (Account, Product, Bank Account, Tax Code). You can also choose to group the balancing entries and the CRV summaries by custom fields set up for sub-analysis mapping Mapping of custom fields at header and line level for the purpose of profitability reporting.. See Managing Sub-Analysis Mappings for details of the setup required.
• The revaluation reserve account (Revaluation Unrealized Gains/Losses GLA) cannot be revalued, but entering a reversing period when creating your revaluations eliminates the need to revalue your reserve.
• The revaluation reserve account (Revaluation Unrealized Gains/Losses GLA) can be translated if you have selected the Unrealized Gains/Losses GLA checkbox on the GLA.
• The Currency Revaluation object is a company-owned object Custom object that only exists within the context of a specific company.. New documents are assigned to the company queue A location within the underlying Salesforce platform used to represent a company. When you activate a new company, a corresponding company queue is created. that represents your current company The company in which you are working. This is represented by the company queue to which you, and new instances of objects you create, are assigned..
• You can use custom settings to automatically set zero value CRV documents as Discarded, and automatically delete those documents. For more information, see Currency Conversion Settings.

Currency Revaluation Document Statuses

Status	Description
Canceled	The document has been canceled.
Canceling	The document is in the process of being canceled.
Canceling Error	The batch process has failed during the process of being canceled.
Complete	The document has been posted. When a document is complete, you cannot edit or discard it.
Discarded	The document is no longer required. A discarded document retains its document number and header details, but its line items are deleted. The user must provide a discard reason. This is stored with the record for auditing purposes. If you have enabled the Discard Zero Value CRVs custom setting, zero value CRVs are discarded automatically, with the reason "Auto discarded".
Discarding	The document is in the process of being discarded.
Generating	The document generation process is in progress.
Generation Error	The batch process has failed during the document generation phase.
In Progress	The document has been generated but has not been posted.
Pending	The document is pending being generated. This status can arise when a group is submitted for processing; each batch job is processed one after the other.
Posting	The document is in the process of being posted.
Posting Error	The batch process has failed during the document posting phase.
Void	The document is void because there were no transactions to revalue. You can use Clear History to delete these documents.