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Contents of the Manage Multicurrency Accounts Screen

Use the fields and options to configure the Manage Multicurrency Accounts screen.

Identification

Field Description
Currency

Enter or click to select, the code for the currency for which transactions will initiate a gain or loss. This gain or loss will be recorded when the currency is the to currency in a from-to exchange. You set up currencies on the Manage Currencies screen.

Gains and Losses

Realized Gains and Losses

Select Accounts

Field Description
Gain Non-Proj Acct

Enter, or click to select, the account number to which your realized gains will be posted. This account number cannot be a project account. We suggest that you create a separate account specifically for foreign currency gains and losses. Realized gains occur when a foreign currency transaction is completed (an AP voucher is entered and the voucher is paid, or when payment is applied to an AR invoice).

Note: Costpoint will post realized gains to this account if you selected the Consolidated option on the Configure Multicurrency Settings screen.
Loss Non-Proj Acct

Enter, or click to select, the account number to which your realized losses will be posted, or use Lookup to select the account. This account number cannot be a project account. We suggest that you create a separate account specifically for foreign currency gains and losses. Realized losses occur when a foreign currency transaction is completed (an AP voucher is entered and the voucher is paid, or when payment is applied to an AR invoice).

Note: Costpoint will post realized losses to this account if you selected the Consolidated option on the Configure Multicurrency Settings screen.

Select Organizations

Field Description
Use A/P or A/R Org

Select this option to charge realized gains and losses to the same organization as the posting AP or AR organization.

Use Other Org

Select this option to charge realized gains and losses to an organization that is different from the posting AP or AR organization. In the related field, enter, or click to select, the organization.

Select Project Accounts

Field Description
Gain Project Acct

Enter, or click to select, the project-required account to which your realized or unrealized gains for a project will be posted. This must be a project account, and must be included in a project account group. If the account you entered is not included in a project account group, a warning message displays, and Costpoint will post your realized gains to a non-project consolidated account.

Note: Costpoint will post realized gains to this account if you selected the By Project option on the Configure Multicurrency Settings screen.
Loss Project Acct

Enter, or click to select, the project-required account to which your realized losses will be posted. This must be a project account, and must be included in a project account group. If the account you entered is not included in a project account group, a warning message displays, and Costpoint will post your realized losses to a non-project consolidated account.

Note: Costpoint will post realized losses to this account if you selected the By Project option on the Configure Multicurrency Settings screen.

Select Project Organizations

Field Description
Use A/P or A/R Org

Select this option to charge realized gains and losses to the same organization as the posting AP or AR organization.

Use Other Org

Select this option to charge realized gains and losses to an organization that is different from the posting AP or AR organization. In the related field, enter, or click to select, the organization.

Use Project Owning Org Select this option to charge realized gains and losses to the organization linked to the project accounts.

Unrealized Gains and Losses

Select Accounts

Field Description
Gain Non-Proj Acct

Enter, or click to select, the account number to which your unrealized gains will be posted. This account number cannot be a project account. We suggest that you create a separate account specifically for foreign currency gains and losses. Unrealized gains occur when a foreign currency transaction has not been completed, but a gain or loss is recognized for financial statements. (An AP voucher is entered but unpaid. At the end of the period or year, the voucher is revalued to show a gain or loss, as if the voucher had been paid in that period or year. For AR transactions, an invoice has been entered, but no payment has been received. At the end of the period or year, the invoice is revalued to show a gain or loss, as if it had been paid in that period or year.)

Note: Costpoint will post unrealized gains to this account if you selected the Consolidated option on the Configure Multicurrency Settings screen.
Loss Non-Proj Account

Enter, or click to select, the account number to which your unrealized losses will be posted. This account number cannot be a project account. We suggest that you create a separate account specifically for foreign currency gains and losses. Unrealized losses occur when a foreign currency transaction has not been completed, but a gain or loss is recognized for financial statements. (An AP voucher is entered but unpaid. At the end of the period or year, the voucher is revalued to show a gain or loss, as if the voucher had been paid in that period or year.)

Note: Costpoint will post unrealized losses to this account if you selected the Consolidated option on the Configure Multicurrency Settings screen.

Select Organizations

Field Description
Use A/P or A/R Org

Select this option to charge unrealized gains and losses to the same organization as the posting AP or AR organization.

Use Other Org

Select this option to charge unrealized gains and losses to an organization that is different from the posting AP or AR organization. In the related field, enter, or click to select, the organization.

Select Project Accounts

Field Description
Gain Project Acct

Enter, or click to select, the project-required account to which your unrealized gains will be posted. This account must be a project account, and must be included in a project account group. If the account you entered is not included in a project account group, a warning message displays, and Costpoint will post your unrealized gains to a non-project consolidated account.

Note: Costpoint will post unrealized gains to this account if you selected the By Project option on the Configure Multicurrency Settings screen.
Loss Project Acct

Enter, or click to select, the project-required account to which your unrealized losses will be posted. This account must be a project account, and must be included in a project account group. If the account you entered is not included in a project account group, a warning message displays, and Costpoint will post your unrealized losses to a non-project consolidated account.

Note: Costpoint will post unrealized losses to this account if you selected the By Project option on the Configure Multicurrency Settings screen.

Select Project Organizations

Field Description
Use A/P or A/R Org

Select this option to charge unrealized gains and losses to the same organization as the posting AP or AR organization.

Use Other Org

Select this option to charge unrealized gains and losses to an organization that is different from the posting AP or AR organization. In the related field, enter, or click to select, the organization.

Use Project Owning Org Select this option to charge unrealized gains and losses to the organization linked to the project accounts.

Reference No

Use this block to assign reference numbers to gains and losses.

Note: Use these fields only if you use reference numbers for additional data entry (rather than as an alternate reporting structure).

Ref 1

Ref 1 may display a different label if it has been changed on the Configure General Ledger Settings screen. For example, it may have been changed to AC 1.

Field Description
Realized Gain

Enter, or click to select, the code to be added to the Reference 1 field when there is a realized gain.

Realized Loss

Enter, or click to select, the code to be added to the Reference 1 field when there is a realized loss.

Unrealized Gain

Enter, or click to select, the code to be added to the Reference 1 field when there is an unrealized gain.

Unrealized Loss

Enter, or click to select, the code to be added to the Reference 1 field when there is an unrealized loss.

Ref 2

Ref 2 may display a different label if it has been changed on the Configure General Ledger Settings screen. For example, it may have been changed to AC 2.

Field Description
Realized Gain

Enter, or click to select, the code to be added to the Reference 2 field when there is a realized gain.

Realized Loss

Enter, or click to select, the code to be added to the Reference 2 field when there is a realized loss.

Unrealized Gain

Enter, or click to select, the code to be added to the Reference 2 field when there is an unrealized gain.

Unrealized Loss

Enter, or click to select, the code to be added to the Reference 2 field when there is an unrealized loss.