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Multi Currency RE-Evaluation Unrealized Gain Loss
by Serpent Consulting Services Pvt. Ltd. https://www.serpentcs.com
Odoo
$ 114.05
| Availability |
Odoo Online
Odoo.sh
On Premise
|
| Odoo Apps Dependencies |
•
Invoicing (account)
• Discuss (mail) |
| Lines of code | 313 |
| Technical Name |
scs_currency_revaluation |
| License | LGPL-3 |
| Website | https://www.serpentcs.com |
| Versions | 10.0 11.0 12.0 13.0 14.0 15.0 16.0 17.0 18.0 |
Multi Currency RE-Evaluation Unrealized Gain/Loss
Multi Currency Re-evaluation Module helps us to calculate and create unrealized gain/loss forex entries for unpaid invoices. It will trigger an automated scheduled action to run at regular intervals to calculate currency revaluation.
Highlighted-features
Unrealized Gain/Loss Calculation
Calculates unrealized foreign exchange gains or losses for unpaid invoices.
Automated Scheduled Action
Runs at regular intervals via an automated scheduled action. Eliminates the need for manual revaluation calculations, saving time and reducing errors.
User Configuration
Allows configuration of accounts for unrealized gain and loss.
Unrealized Gain/Loss Calculation
Unrealized Foreign Exchange Gains or Losses Calculation refers to the process of determining the impact of exchange rate fluctuations on the value of unpaid invoices denominated in foreign currencies. These gains or losses are "unrealized" because they are based on the current exchange rate and not an actual monetary transaction.
Automated Scheduled Action
To streamline the process of revaluing unpaid invoices for foreign exchange (FX) gains or losses, the system can use an automated scheduled action. This eliminates the need for manual calculations, ensures consistency, and reduces the potential for human errors.
User Configuration
Allows configuration of accounts for unrealized gain and loss per company. In a multi-company environment, the ability to configure unrealized foreign exchange (FX) gain and loss accounts per company is crucial for maintaining accurate and independent financial records. This ensures compliance with the distinct accounting policies and reporting requirements of each company.
- Company Configuration : Configure currency gain and loss account in company configuration that will be used to make currency valuation entries each month or at regular intervals.
- Currency Rate Configuration : Default company currency is INR and we set USD currency rate compared to INR as base currency.
- Auto Scheduler : Default schedule that runs 1st of everymonth to generate currency valuation entries. It will generate valuation entries and then reversal entries of the valuation.
- Multi Currency Invoice : Invoice creation with multi currency USD that will generate secondary currency accounting entries on validation.
- Multi Currency Invoice Entries : Invoice creation with multi currency USD that will generate secondary currency accounting entries with amount currency and currency amount in entries with currency rate conversion amount in credit and debit field.
- Currency Valuation Entry : On 1st of everymonth following entries will be generated automatically based on Scheduler action.
- Currency Valuation Reverse Entry : On 1st of everymonth following entries will be generated automatically based on Scheduler action. That will balance unrealised gain loss entries.
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