Creating Currency Revaluation Documents

If you have enabled the Currency Translation and the Foundations Exchange Rates integration features and are using Lightning, you can create currency revaluation criteria using currency revaluation templates. These criteria enable you to retrieve transaction data for multiple companies, so that you can perform revaluation or translation for these companies in a single process.

If you are using Classic, see Using Classic or Lightning Visualforce Pages

Note:
The processes that run when you generate revaluation documents are determined by the template type. FinancialForce recommends that if the template type is "Currency Translation Only", you only include. companies where the Document and Home currency values are the same. If a company has documents that are not in the Home currency, we recommend that you select a template that has "Currency Revaluation and Translation" as the template type to run Revaluation and Translation together.

Prerequisites

Before you create currency revaluation criteria, you must ensure that:

  • You are in multi-company mode.
  • You have at least one currency revaluation template available.
  • You have the permissions to access all the companies in the template.
Note:
You can run currency revaluation without being in multi-company mode, but you will not be able to view the currency revaluation transaction line item reports or the generated currency revaluation groups.

Creating Currency Revaluation Criteria

You can perform the following steps from the currency revaluation criteria page:

  • Create criteria
  • Retrieve and review the data
  • Generate or Generate & Post
  • Review results

Selected periods must be valid for all companies.

The tabs available when you click Retrieve depend on the currency revaluation template type.

To create currency revaluation criteria:

  1. Click the Currency Revaluation Criteria tab.
  2. Click New.
  3. Enter a name for the criteria. This must be unique.
  4. Select the Currency Revaluation Template that you want to use.
  5. Click Save.
  6. On the Currency Revaluation Criteria details page, select the Revaluation Period From and Revaluation Period To.
    • For Balance Sheets the default periods are Opening Balances to the current period.
    • For Income Statements the default to and from periods are the current period.
    • The selected periods must be valid for all the companies on the currency revaluation template.
    • The from and to periods cannot be the special periods.
  7. Click Retrieve Data. All valid transactions for the companies in the template are retrieved.
  8. [Optional] Review the currency combinations and their exchange rates that have been selected for each company. You can also view the transaction line items that will be included in the revaluation or translation by clicking the quick action button selecting Income Statement Report or Balance Sheet Report. For more information, see Currency Revaluation and Translation Reports
  9. [Optional} Click Exchange Rates to manage the exchange rates for the revaluation or translation. If you edit exchange rates, you must click Retrieve Data again to update the information on the currency revaluation criteria.
  10. [Optional] Click Manage Selections to remove companies or currency combinations from the revaluation process. For example, you can remove companies or currency combinations that do not have transactions to revalue (i.e. the Document and Home Currency are the same). To remove a company from the revaluation, clear the checkbox by the company name. Click Save Selections when you have made your changes.
  11. Once you have reviewed the transactions and currencies click Generate or Generate & Post to start the revaluation or translation process.
  12. Enter the Transaction Posting Period.
  13. [Optional] Enter the Reversal Posting Period.
  14. Click Generate or Generate & Post. You will receive an email notification when the process completes.

Generate creates the currency revaluations, so you can review them before they are posted

When the currency revaluation process is complete, information is displayed in the Currency Group panel. You can click the Group Name to view details of the CRV documents. For more information, see Currency Revaluation Group Fields.

To create CRV documents follow these steps:

  1. Select
  2. Revalue and Translate
  3. Review (optional)

The next step is to post the CRV documents to create the CRV transactions. For more details see Posting CRV Groups and Documents.

Select

To select the transactions to revalue:

  1. Log in to your organizationClosed A deployment of the Salesforce/FinancialForce applications with a defined set of licensed users. Your organization (org) includes all of your data and applications, and is separate from all other orgs. with accountant-level user permissions.
  2. Make sure that you are in single-company mode and that the current companyClosed 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. is the one you want to revalue.
  3. Click the Currency Revaluation tab.
  4. Click New.
  5. [Optional] If you have an existing CRV template, click Load Template. Select a suitable template and click Load. This retrieves a saved set of selection criteria.
  6. Select the source of the revaluation data. Are they related to Balance Sheet general ledger accounts (GLAs), Income Statement ones, or both?
  7. Specify the range of periods to retrieve data from. The start of the balance sheet selection range can be either the opening balance at the start of trading or a specific trading period.
  8. Specify the period to post CRV transactions to. This must be equal to, or later than, the end period of the selection period range.
  9. Specify the period to post reversal transactions to. This must be equal to, or later than, the posting period.
  10. [Optional] For balance sheets select Exclude CRV Transactions to ignore CRV lines. This ensures that CRVs are not included. CRV transactions that are included in income statements are already ignored.
  11. Choose how you want to select GLAs. The options are: automatically select all eligible general ledger accounts or choose your own. You only get the second option when you have chosen a single revaluation source.
  12. [Optional] If you chose the option to pick the GLAs to use, select them now.
  13. [Optional] If a second revaluation type is selected, repeat the previous steps.
  14. Tell the application what you want to happen when it finds lines that have already been revalued. You can choose to exclude them from the selection or fail with an error.
  15. If you want the process to include all currencies in your org, irrespective of whether they are used or not, clear the Ignore Unused Currencies checkbox.
  16. Click Retrieve Data. The selected transaction line items are retrieved and the Revalue and Translate page is displayed.

Revalue and Translate

To review the transaction line items retrieved:

  1. In the Document Currencies column, click the currency pair that you want to review, such as USD to GBP. This opens a list of retrieved transaction line items for the selected currency pair and the period and GLA criteria entered on the previous page.
  2. Review the retrieved transactions.
  3. [Optional] Click Export As to export the retrieved transactions in the selected output format (XLS, CSV or PDF). The Microsoft Excel and CSV files are downloaded to your Downloads folder. The PDF is automatically displayed. Use the Save As feature to download the PDF to your local machine.
  4. When you have finished, click Close.
  5. [Optional] Repeat the process for other currency pairs.

You can now choose to Revalue, Translate, or both, using the Revalue checkboxes. The Currency Translation feature must be enabled in order to use it. For more information about currency translation, see About Currency Revaluation and Translation.

To revalue Document to Home and translate Home to Dual currency pairs:

  1. [Optional] If the Foundations Exchange Rates Integration is enabled on your org, you can select the Exchange Rate Type that you want to use for revaluation and translation.
  2. Select the Revalue checkboxes for any Document to Home currency pairs that you want to revalue. You can see the Latest Entered Rate and a Conversion illustration for each currency pair.
  3. Enter the new CRV rates (up to nine decimal places). The rates you enter are applied to all appropriate records, regardless of any exchange rate overrides that might have been specified when the documents were entered.
  4. To translate the Home to Dual currency pair enter the currency translation rate. If you do not want to carry out translation, clear the Translation checkbox.
  5. Enter the revaluation unrealized gains or losses GLA that you want to use. If for the accounting company you select the Use Unrealized Losses GLA checkbox, this field dynamically changes to Revaluation Unrealized Gains GLA. Use the Revaluation Unrealized Gains GLA field for the unrealized gains, and the Revaluation Unrealized Losses GLA field for the unrealized losses.
  6. Enter the currency translation adjustment GLA that you want to use.
  7. Choose whether you want to analyze by dimensions and whether you want to copy them from the source transactions or specify them here.
  8. [Optional] If you chose to specify dimensions here, enter them now.
  9. Choose whether you want the application to summarize the lines with the same analysis, or list all revaluation detail lines individually.
  10. [Optional] If you chose to list all detail lines individually, choose between a standard or a subanalysis breakdown. For a description of these analysis breakdown types see Currency Revaluation Fields.
  11. [Optional] If you want to schedule the revaluation process, enter a date and time for the job to run.
  12. [Optional] If you want to use these selection criteria again, click Save Template. A summary dialog is displayed. Enter a descriptive name for this new template and click Save.
  13. Click Generate to generate the CRV group but not post them yet.

What happens next depends on whether you have scheduled the process:

  • If you chose not to schedule the process, batch jobs are initiated to generate the CRV documents. You are notified by email of the success or failure of these operations for each document.
  • If you chose to schedule the process, a scheduled job is set up.

See Scheduling a CRV for more information.

To monitor the batch jobs, from Setup, click Monitoring | Apex Jobs.

Review

You can review CRV Documents individually or in a group.

Notes:
The name of every document generated by the currency Revaluation & Translation process is prefixed with CRV. You can use the Document Ordering field to help you to order and categorize Currency Revaluation & Translation documents. In the Document Ordering field, Currency Revaluation documents are prefixed by CRV and Currency Translation documents are prefixed by CRT.
Notes: If the Accounting multi-book feature is active on your org, then each CRV document will be linked to the appropriate Accounting Book.

To view CRV Documents individually:

  1. Click the Currency Revaluation tab.
  2. From the Currency Revaluations list view, click the CRV Document you wish to review.

To view a summary of the CRV documents in a group:

  1. Click the Currency Revaluation Group tab.
  2. Click the name of the CRV group to display its detail page.
  3. Copy the group name. This step is not required when using the standard inquiry template supplied by FinancialForce.
  4. Click Revaluation Summary. If you do not see this button, contact your administrator.
  5. Select an inquiry templateClosed Specifies the dataview that you are inquiring on in FinancialForce Reporting., or accept the default one displayed.
  6. Click Next.
  7. Paste the group name into the input field if it is blank.
  8. Click Select to run the action view.