Hi all,
I understand from the Adjust Exchange Rate function, you can't really see what is the impact before you go ahead with it, once posted, it is irrecoverable. I have financial experience and background, so I am asking myself this question, if I perform this unrealised exchange gain/loss revaluation, how can I easily reverse back the journal on the first day of the following month.
Someone might say, well, you don't have to do that as system will reverse for you before you actually realise it by posting a payment. Yes, you are right if the invoice will be paid in the following month, otherwise, the accounts will not be accurate. So usually, as a finance, we will reverse everything on the first day of the following month, after some realised payments being made, we do not have to bother, end of the new month, we will do another "unrealise exchange gain/loss" to get the new unrealise figure.
Does anyone has an idea on how to achieve what I was asking above? I know if I can have a journal of these unrealise exchange gain/loss journal without posting directly, that will be great, as I can paste it to a recurring journal which can reverse for me on the first day of the following month.
Thanks in advance.