Hi Community,
If we calculate the currency revaluation for the whole year at the end of period 12 instead of monthly, is there any system issues? Would the system allow it?
I had couple of testing and noticed that for Balance sheet accounts total balance is revaluating.
Appreciate your support on this.
Best regards,
Thakshila
Hi,
Most clients need to report financials every month / every quarter. Traditional accounting policy mandates accurate financial booking / financial reporting.
Generally, this would be unacceptable.
Would IFS allow this? Yes, but that does not imply it’s not required in order to comply with accounting standards. Every country has a flavor of accounting standards. I can’t say with certainty your client would be noncompliant, but taking a guess, they should be doing this every month, especially if the values are bigger than small.
Hi Thomas,
Thanks for your input. I accept it. But my customer's group management request to check the feasibility.
Best regards,
Thakshila
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