Revaluation of Foreign Currency Bank Account
Hello,
We have a situation with Foreing currency bank account. Our functional currency is EUR and we have a USD denominated bank account. Bank accounts are defined as an Asset account.
Below is an example:
Date | Dr | Cr | Currency | Exchaneg rate | Month end rate | Difference | Gain(loss) |
01-Apr-18 | 1000 | USD | 1.12 | 1.20 | 0.08 | 80 | |
15-Apr-18 | 500 | USD | 1.16 | 1.20 | 0.04 | -1.16 | |
30-Apr-18 | 500 | USD | 1.18 | 1.20 | 0.02 | -1.18 | |
Total | 1000 | 1000 | Total | 77.66 | |||
Balance is Zero |
So if you see the balance is USD is zero but based on the Oracle Revaluation, every month we get the loss or gain based on the period end rates.
Is there a way where we can state if the balance is zero for bank account then revaluation should not run.