Hello @Thej ,

The system behavior is the same when you are running currency revaluation for last period of the year. If you select Do Not Reverse field for the General Ledger accounts then those accounts will not be reversed in reversal voucher. Other than that all the Account Receivable and Account Payable accounts will be reversed with next voucher which will go to 1st day of next financial year.

Hope this helps

@gumabs We are going to invalidate existing bank accounts in current financial period and new accounts will be created to effective from first date of the next financial year. Financial year end is 31/1/2024 and we are performing currency revaluation on 31/1/2024. As a result, there should be a voucher created in 1st February 2024. However, 1st February 2024, there won’t be any old accounts in the system . In this case, what is the best way which we can handle the currency revaluation.

Best regards,

Theja

Hello @Thej 

If you inactivate existing bank accounts then best practice could be using Do Not Reverse check box. In this case the reversal voucher with date 1st of February 2024 will not have bank accounts.

Hope this helps

@gumabs That will be good. But, if we do not reverse the voucher in next financial year, the bank balance consist of exchange gain or loss. Is it correct? on the other hand we can keep the accounts open another one month. What would be  the best approach out of these two?

Hi @Thej 

Yes that is correct, your balance at the end of financial year will be including gain/loss. When you change the GL account from one to another, you must transfer balance what is available on GL balance analysis. If you keep the account open or not, in any case you can always have Do Not Reverse selected for bank GL accounts. To me, this is the best approach I used so far.

Hope this helps

@gumabs Appreciate your help very much...