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Oliver Dillon
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7 votesOliver Dillon
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The problem with the existing process is that the unrealised variances accumulate. Some months the swing in revaluations due to fx rate changes on the closed historical transactions can be several times the actual balance in the account.
In a complete 'Realisation' system the units of currency would be treated in the same way as invoices and Revaluation of the Cash movements would be posted as the Cash is spent.
This is something we used to do as a manual journal on a monthly, or quarterly basis as it was more practical. We used a FIFO basis so that there was still an unrealised var after the journal but it was not an accumulation of historic variances.