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Bank Re-valuation in Opera 3

In Pegasus Opera 3 you can use the Bank Revaluation command to revalue the balances of foreign currency bank accounts where the exchange rate has changed since the last revaluation. This only applies if you have the Multi-currency module installed and activated. It is possible to revalue all foreign currency bank accounts or a specific bank account. The command is only applicable if you have the foreign currency bank account feature installed.

When you run the feature, there is an option to select Report Only, which will allow you to print a report of the proposed revaluation without actually affecting the bank account balances. If you select the Update and Report option, the same report is produced but the balances are revalued and updated at the same time by a revaluation journal.

For each foreign bank account, the process will take the current year to-date foreign balance and, using the current nominal ledger exchange rate identified in the Nominal box on the Rates tab of the System Exchange Rates form, convert it into the home currency. This is then compared to the current year to-date home currency balance. Where a difference exists, the application creates a journal of the difference between the two to the bank account and the exchange loss or gain account defined in the corresponding Nominal Code box for exchange discrepancies on the Rates tab of the System Exchange Rates form. The application then recalculates the company bank balance.

1. Open the Nominal folder and then click Nominal > Utilities > Bank Revaluation or click the Financials tab and then click Nominal > Utilities > Bank Revaluation on the Ribbon Bar.

2. Do one of the following:

  • To revalue all foreign currency banks, select All Banks.

  • To revalue a specific bank account, select Specific Banks and the click to select the bank account from the list.

3. Do one of the following [...]

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