Our client revaluated AP with transaction dated 07/31/2011. The process was done in 08/16/2011. A Revaluation batch was posted to July period in GL. However, The balance of AP backdated to July 31, 2011 does not contain the revaluation amounts. The subledger is always off by that amount. Is that the expected behaviour? Do they need to run some other process to get the correct Open Payables balance?

Hi Patricia,

Currency revaluations only affect Home currency equivalent amounts, not the Source currency. When you are printing the AP report to determine the balance as of July 31, are you printing just the Source currency list (which would be incorrect) or one that lists the Home currency equivalent (which should balance the GL).

To fix, you will need to determine whether AP or GL has the correct balance, and where the incorrect information is. It may be that the revaluation was posted to the August period in GL. I can't advise the specific way to proceed without more detailed information.

This issue occurred because there was a revaluation happening in the AP subledger and another happening in the GL. Then, the control account did not match the Open Payables report by the GL revaluation. I had to tell our client that if the GL revaluated control account has the correct home amount, to continue doing their GL and AP revaluation but ignore the Open Payables home amount; to reconcile only the Source Amount. Same happens with AR.