Managing accounts in multiple currencies brings a critical challenge: Exchange Rate Volatility. At the end of every month or fiscal year, the book value of your foreign currency assets and liabilities rarely matches the current market value.

Manually updating these values in spreadsheets is time-consuming, prone to calculation errors, and creates a disconnect in your accounting software. This module eliminates that manual work, ensuring your financial statements are accurate, compliant, and reflective of the true economic reality.

Configuration

1. Multi-Currency Activation: Go to Accounting > Configuration > Settings and enable "Multi-Currencies".
2. Chart of Accounts: Ensure your foreign currency accounts (e.g., USD Bank Account) have the correct Account Currency set in their configuration. Note: The wizard only shows accounts where the Currency is different from the Company Currency.
3. Exchange Rate Journal: Go to Accounting > Configuration > Settings (Currencies section) and ensure the "Currency Exchange Journal" and "Gain/Loss Accounts" are configured (this is standard Odoo, but required).

Advanced & Troubleshooting

• Missing Accounts in Wizard: If an account does not appear in the wizard, verify that the Currency field on the Account form is set. If it is empty (Company Currency), it is excluded from revaluation.
• Exchange Rates: The wizard requires a Closing Exchange Rate for each account. This allows you to revalue different accounts at different rates (e.g., Buy vs Sell rate) if needed by local regulations.

Use these scenarios to validate the module functionality in your environment.

Scenario A: Basic Gain/Loss

1. Create a bank account in USD (assuming company currency is different).
2. Post an incoming payment of $1000 USD at an exchange rate of 1.0.
3. At month-end, the exchange rate is 1.2.
4. Run the wizard with Closing Rate = 1.2.
5. Expected Result: The system should calculate a gain (or loss depending on base currency) based on the 0.2 difference and post an adjustment entry.

Scenario B: No Variation

1. Use an account where the closing rate is exactly the same as the transaction rate.
2. Run the wizard.
3. Expected Result: The calculated adjustment should be 0.00, and no entry should be generated for this specific account.

Scenario C: Reversal Check

1. Post the adjustment entry from Scenario A.
2. Check the "Reversal Date" on the generated Journal Entry.
3. Expected Result: The entry should be set to auto-reverse on the first day of the next period (if configured to do so) to reset the balance.

Q: Why is my account list empty?

A: The wizard filters for accounts that have a Foreign Currency set in their configuration. If your account is set to the Company Currency or has no currency specified, it will not appear.

Q: Can I edit the calculated amounts?

A: No, the amounts are calculated mathematically based on the balance and the exchange rate you provide. If you need a different result, check your input Exchange Rate or the account balance.

Getting started is simple. Just ensure your standard Odoo multi-currency configuration is active. Navigate to the wizard, select your parameters, and let the system handle the complex math. No complex implementation required.

1. Go to Accounting > Reporting > Unrealized Gains/Losses.
2. Definen the Start Date and End Date for the period.
3. Select the Accounts you want to revalue.
4. Review the calculated adjustment in the preview.
5. Click Generate Entry to post to the General Ledger.