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Changes in Base Currency 2

If you are using the Dual-Base system, you may wish to account for gains or losses resulting from changes in Base Rates. For example, if a Transaction is entered using the correct Base Rate for the Transaction Date and the Base Rate then changes significantly, it may be necessary to apply the new Base Rate and post a gain or loss in Base Currency 2.

To carry out this task, follow these steps:

  1. Run the Base Currency Rate Change report in the Nominal Ledger to view the effect on past Transactions of recent Base Rate changes.

  2. Run the 'Revaluation of Base Currency 2' Maintenance function in the Nominal Ledger to create a Transaction posting the gains or losses resulting from the application of the new Base Rate. Note that this Transaction will only have values in Base Currency 2 as its purpose is to ensure old Transactions balance using the latest Base Rates.
Please click the links for detailed descriptions of each step.