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Choose the method by selecting "Calculate Exchange Rate Differences on Month Closing Only" in Administration > Service Settings
Calculations with Option Enabled
Revaluation of Foreign Currency GL Accounts
At the end of each month, general ledger (GL) accounts in foreign currencies—such as Cash, Receivables, Payables, and Staff Settlements—are revalued using the latest exchange rates.
Example:
- On June 30, a bank account has 23,000 EUR, with an exchange rate of 4.40, making it 101,200 Dirhams.
- On July 10, a deposit of 15,000 EUR is made at an exchange rate of 4.42, increasing the balance to 167,500 Dirhams.
- By July 30, the exchange rate changes to 4.45, so the balance is revalued to 169,100 Dirhams, resulting in a 1,600 Dirham gain.
Revaluation of Payables and Receivables
For Payables and Receivables, gains and losses are calculated for each document:
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For settled transactions, the final gain or loss is determined at month-end using the exchange rate on the payment date.
Calculations with Option Not Enabled
When the option "Calculate Exchange Rate Differences on Month Closing Only" is not enabled, exchange rate differences are calculated continuously throughout the period.
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