Hi, my name is Chris, I am somewhat new in Navision.
Our company just had a milestone by having Navision live in its daily transaction. We had it for less that half a year.
One of my task was to revalue Foreign Currency ending balance for Bank, but not for Vendor and Customer.
By my lack of experience, I revalued all of them.
For your information, our company introduced a weekly forex rate but fortunately (still) i revalued my accounts above from OBAL to end of the month (so not periodically)
Anyone has the experience of reversing the transactions so that I would reverse my revalued Vendor and Customer accounts ?
Not a good situation to be in. There is no function to “reverse” currency adjustments. And it’s next to impossible to manually, depending on how many records have been adjusted.
I would start by making a “test company” as a copy your live company. The I would start experimenting on manually reversing it, by setting the currency value back, and run the adjustment again, to see if you can get it back. The reason it gets complicated is if the entries you have adjusted are all made with different currency value. Then you more or less have to do it “per value”.
And I’m not even sure it will be ok. I have never been in this situation.
So you might end up having to reverse only the gl entries. But remember this should only be periodically, as the currency value will be adjusted again, when the entry is closed.
FOREX revaluations are recorded as delta values against previous (if any) adjustments - that means, if you change something in the middle of this chain by editing the rate and re-running the AER batch job the result may be unpredictable.
Besides, these adjustments are written in Detailed Customer (Vendor) Leger Entries table as Unrealized gain (Loss) for every OPEN transaction, not only the GL. Therefore, you can not adjust anything making direct postings in the GL only.
GL will seem to be OK, but it WILL NOT match amounts in Customer (Vendor) Ledger.
Yes, if you start doing a gl entry to reverse the results, and if you could close all these ar/ap posts on the same day then it could reverse the result on this adjustment job. But since this is very unlikely, and it is more likely that these open entries will be closed over a longer period, and likewise on days where entries which were not adjusted, then it will end up being a mess.
If you know how much the AP/AR part of the adjustments where, then you can do a post in which the results are just moved to the next accounting period (assuming that most of the open entries will be paid in the next period and therefor will have have the adjustment entry reversed next period).
But really if in doubt, then you should ask your CPA or auditor, as this post still will be visible in the setup. There might be local legal requirements on how manual reversals like this should be posted in your country.