Hi Hannah,

Thanks for using Sage City.

When you allocate foreign currency transactions with different exchange rates, Sage automatically posts revaluation transactions to correct the difference.

The transaction type for the revaluation depends on the VAT scheme, the VAT value, the exchange rate difference and whether it's a gain or a loss to the company.

You can refer to this guide for more info.

If this has answered your question please click More > Verify Answer.

Regards,

Paul

Sage UKI

Hi Paul,

Thanks for your reply, unfortunately my question still remains unanswered!

At the year end, I want to take my outstanding (still to be paid) foreign debtors and revalue the outstanding balances for the exchange rates at 31 March (as per accounting rules). These invoices will still be outstanding at 1st April and will not have been paid so exchange differences will not have been accounted for.

Thanks

Hannah

The way we’d recommend to do this is as you’ve described in your original post Hannah, i.e. to credit the invoices off and re-enter them with the updated exchange rates. There’s not a revaluation function for customers and suppliers like there is for bank accounts.

Some other Sage City users may do it a different way, which they'll hopefully share with you on here.

Regards,

Paul

Sage UKI