AugTool Documentation
Bank Reallocation with Forex
Forex Reallocations usually create a change in financials i.e Forex Variance. Previously the system did not allow you to reallocate forex transactions after a period was locked. The Processing Lock still applies and you will not be able to reallocate transactions once the Processing Lock is on. However now the system will allow you to reallocate forex transactions, after the Financial Lock Date.
Reallocations after Financial Lock Date:
a) Bank:
Reallocation Date - on the bank you will be allowed to select the "Reallocation Date" provided it is after the Financial Lock Date. The "Reallocation Date" will be defaulted to the current date unless it is changed.
Bank Financials - shows you all the reversals and the new forex variances created at Reallocation Date. The Document Log also shows you all the invoices that were associated with the bank transaction i.e allocated to and reversed.
Allocation History - shows you the history of the reversals. It does not show you the current reallocation. The current reallocation can be seen on the line item detail popup.
b) General Ledger:
The Forex Variance will be created as per the Reallocation Date entered on the bank. If there was a forex variance created by the bank transaction in a financially locked period prior to the reallocation, then the Forex Variance will be reversed on the Reallocation date entered on the bank. The new Forex Variance created by the Reallocation will be accounted for on Reallocation Date.Â
c) aging and Statement:
Historical aging will remain the same with the forex variance that was created as at aging date. Further reallocations does not affect historical aging as the forex variance is reversed on the new reallocation date and the new forex variance is created on the new reallocation date.
The Base Statement shows the Forex Variance. Unlike the General ledger where every entry of forex variance is shown, the Base Statement shows only the total of all the forex variance amounts in a period. The Forex Statement that goes to the customer does not show forex variance.
