FX Evaluation

Forex Evaluation

The FX Evaluation run is used to re-evaluate any open balances or chart of account balances. If you created a document (sales invoice for example) with a rate of 15 to the dollar and saved it then its respective accounts receivable would have been affected in the base currency at a rate of 15. However, if you want to re-evaluate the open exposure accross all invoices you can use the FX Evaluation run to do so. Ultimately speaking the forex gain or loss managed with the Forex Variance account will determine the true foreign exchange evaluation. 

Below you can see that you can create a FX evaluation for Customers, Suppliers, Bank accounts and Chart of accounts. 

As you add or remove customers, suppliers, bank accounts and accounts to the FX Evaluation run you will see on the Sumary tab the total gain or loss based on your FX rate you set for the Run. When you post this run it will then create financial transactions for the adjustments.