FX rate adjustment - Month Closing Rate and Month Average Rate

At every month end, we update the adjustment exchange rate amount using the month closing rate. And the adjustment only revaluates the Balance Sheet items - Accounts Receivables, Accounts Payables and Bank balance. But where to put the month average rate which allows the adjustment on Income Statement items?

Before using Navision, I used AccPac which allows the input for month closing rate and month average rate. But with Navision, do you know whether the revaluation on Income Statement item using an month average rate is feasible? Thank you!

Please declare why you would like to revalue the income statements?

Usually the income is adjusted with the FX gain/loss accounts - even though I would admitt that it might be nice to revalue the original sales/purchases on the sales/purchase accounts.

Anyway from my understanding it is sufficient to just post the gain/loss to realized/unrealized gain/loss accounts.

We only update the FX rate at month end. Let’s say Feb end, we put the FX rate as 1.2, and this 1.2 was the rate for March’s purchases/sales. When the march average rate turned out to be 1.26, we do see the necessity to revalue the costs/sales (income statement items). Otherwise, the actual cost/sales will not capture the right FX rate.

I see Accpac and Great Plains allow this revaluation for income statement items. Just want to know whether Navision has this function too. I have checked with our consultant and was told that nobody asked for this function before.[