Watch a video about currency management in Uniconta here. A detailed description of the content of the video is provided at the bottom of this article.
Under Finance/Maintenance, Uniconta can calculate and post exchange rate adjustments for a specific period. The adjustment is recommended to be calculated on the last day of the period. For Debtor and Creditor entries, the exchange rate adjustment is calculated on the last day of the period and reversed the following day. Finance adjustments are not reversed.
It provides a snapshot of what the company should adjust the result with if all payments in and out are made on the calculation date.
ATTENTION! Remember that primoposts must be created for the year you make the currency adjustment in.
The form is filled in according to the following guidelines. Accounts should only be filled in where currency adjustment is required If, for example, there is nothing in Debtor, then Debtor is not adjusted. And if only financial accounts are to be adjusted, only "Counter account for financial accounts" should be filled in. If creditors are to be adjusted, only the two accounts for creditor adjustment must be filled in. Financial accounts are adjusted on the accounts that have a currency code set in the chart of accounts. When OK is pressed, the value per currency is calculated as of the specified date. This value is compared with the value in the company currency. The difference is calculated on a currency loss/profit account in operations and entered on an accrual account in status.
As an alternative to entering the account numbers above, they can be entered on the debtor and creditor group, as shown in the screenshot below.
ATTENTION! Remember to check that the currency adjustment account is set up as a system account. Read more here.
Drafts
The run creates entries in a cash journal so that the calculation can be seen before posting. The entries in the draft will consist of 2 sets of entries. One set that adjusts the loss/profit on the specified date and one set who will return them the following day.
Please note. Finance is not refundable.
Watch a video about currency management in Uniconta here.
Currency adjustments are presented from minute 5:30-6:30, automatic currency adjustments in a draft from minute 25:00-28:00, currency adjustments on bank accounts from minute 35:00 and currency adjustments on debtors and creditors from minute 41:00.
The form is filled in according to the following guidelines. Accounts should only be filled in where currency adjustment is required If, for example, there is nothing in Debtor, then Debtor is not adjusted. And if only financial accounts are to be adjusted, only "Counter account for financial accounts" should be filled in. If creditors are to be adjusted, only the two accounts for creditor adjustment must be filled in. Financial accounts are adjusted on the accounts that have a currency code set in the chart of accounts. When OK is pressed, the value per currency is calculated as of the specified date. This value is compared with the value in the company currency. The difference is calculated on a currency loss/profit account in operations and entered on an accrual account in status.
As an alternative to entering the account numbers above, they can be entered on the debtor and creditor group, as shown in the screenshot below.
ATTENTION! Remember to check that the currency adjustment account is set up as a system account. Read more here.
Drafts
The run creates entries in a cash journal so that the calculation can be seen before posting. The entries in the draft will consist of 2 sets of entries. One set that adjusts the loss/profit on the specified date and one set who will return them the following day.
Please note. Finance is not refundable.
Watch a video about currency management in Uniconta here.
Currency adjustments are presented from minute 5:30-6:30, automatic currency adjustments in a draft from minute 25:00-28:00, currency adjustments on bank accounts from minute 35:00 and currency adjustments on debtors and creditors from minute 41:00.