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Revaluation at Year End

edited Jan 30, 2019 4:30PM in General Ledger & Intercompany 7 comments

Summary

Revaluation at Year End

Content

Hi,

 

How does revaluation work at year end.

Our year is from Jan - Dec.

For a normal month, we would run revaluation and the system would create the journal. We would then reverse the Journal on the 1st of the new month.

However, if we do this at the end of December and then reverse in January, the income statement would already have been rolled up into Retained Income.

What is the std way of doing this. Do we use the Adj period?

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