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Viewing Revaluation Steps Concept

Viewing Revaluation Steps Concept. Viewing Revaluation Steps. Viewing Revaluation Steps. Step 1. Begin by navigating to the Ledger and TimeSpan page. Click the Scroll Down button. Viewing Revaluation Steps. Step 2. Click the General Ledger menu. Viewing Revaluation Steps. Step 3.

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Viewing Revaluation Steps Concept

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  1. Viewing Revaluation StepsConcept

  2. Viewing Revaluation Steps

  3. Viewing Revaluation Steps Step 1 Begin by navigating to the Ledger and TimeSpan page. Click theScroll Downbutton.

  4. Viewing Revaluation Steps Step 2 Click theGeneral Ledgermenu.

  5. Viewing Revaluation Steps Step 3 Click theProcess Multi-Currencymenu.

  6. Viewing Revaluation Steps Step 4 Click theDefine and Processmenu.

  7. Viewing Revaluation Steps Step 5 Click theRevaluation Stepmenu.

  8. Viewing Revaluation Steps Step 6 Click in theProcess Stepfield.

  9. Viewing Revaluation Steps Step 7 Enter the desired information into theProcess Stepfield. Enter"MULTIBOOK".

  10. Viewing Revaluation Steps Step 8 Click theSearchbutton.

  11. Viewing Revaluation Steps Step 9 Use the Ledger and TimeSpan page to define a ledger, timespan, and rate type for revaluation.

  12. Viewing Revaluation Steps Step 10 Use the Effective Date field to enter the date on which this step is valid. Using a date far in the past ensures that the value will be available for any record requiring the use of this step.

  13. Viewing Revaluation Steps Step 11 The Status can be Active or Inactive.

  14. Viewing Revaluation Steps Step 12 Use the From Ledger Group and Ledger fields to specify the from ledger group and specific ledger in which you want to perform the revaluation. You cannot specify a translation ledger for revaluation. If you do not specify a ledger, revaluation revalues the amounts of all the ledgers in the ledger group. To revalue a ledger group with KLS (keep ledgers in sync) selected, you must leave the Ledger field blank.

  15. Viewing Revaluation Steps Step 13 PeopleSoft General Ledger generates journal entries whose amounts represent the period of time indicated in the TimeSpan field for the revaluation being processed. The timespan normally used for balance sheet accounts is BAL (year to date). Using this timespan, the system totals the account balances in periods 0 through n for balance sheet accounts.

  16. Viewing Revaluation Steps Step 14 Use the Rate Type field to enter the exchange rate type for the process.

  17. Viewing Revaluation Steps Step 15 Click theSource Chartfieldstab.

  18. Viewing Revaluation Steps Step 16 Use the Source Chartfields page to specify accounts to revalue.

  19. Viewing Revaluation Steps Step 17 Use the ChartField field to select the ChartField (for example, Account or Alternate Account) that you want to revalue using the timespan and rate type specified.

  20. Viewing Revaluation Steps Step 18 In the How Specified group box, list accounts individually by selecting the Selected Detail Values option or, more commonly,  select the Selected Tree Nodes option. The latter option activates the Tree Information fields, where you can specify a tree from which to select nodes. Using trees establishes rollups for the account values so that you can select particular types of accounts according to the structure of your business unit.

  21. Viewing Revaluation Steps Step 19 Use the Tree field to establish rollups for account values.

  22. Viewing Revaluation Steps Step 20 If the tree has levels, you can limit prompting in the Level field to selected levels.

  23. Viewing Revaluation Steps Step 21 In the Chartfield values/Tree nodes grid, select particular types of accounts according to the structure of your business unit. You should use trees whenever possible to reduce future maintenance when your ChartField values change.

  24. Viewing Revaluation Steps Step 22 Click theOutput and Journal Optionstab.

  25. Viewing Revaluation Steps Step 23 Use the Output and Journal Options page to specify output options, journal information, and revaluation reversal options.

  26. Viewing Revaluation Steps Step 24 Use the Journal ID Mask field to identify the revaluation journal naming convention. PeopleSoft General Ledger identifies journals by a 10-character alphanumeric identifier. The system automatically names journals starting with the mask value that you specify here. For example, if you enter a mask value of RVAL1, then the system will supply the remaining characters based on the next available journal ID number. If the next available journal ID number is 19, then the generated journal ID would be RVAL100019. Alternatively, if you do not use the journal ID mask, then the system automatically will assign the next 10-character available journal ID number. If you use a journal ID mask, reserve a unique mask value to ensure that no other process creates the same journal ID.

  27. Viewing Revaluation Steps Step 25 Use the Source field to identify the source of the journals. You can select any valid source in the Source table.

  28. Viewing Revaluation Steps Step 26 Select the Create Journal Entries option to create journal entries with a header status of V = Valid that can be posted automatically as part of revaluation processing or through the normal posting methods. You can select the Post Journal(s) option along with this option to automatically post the journals you create.

  29. Viewing Revaluation Steps Step 27 Journal entries that are created by the Revaluation process already have a valid journal status because the values processed are from previously-edited data in existing ledger tables. You can, however, select the Edit Journal(s) option to edit journals that are created by revaluation to be validated for such things as changes to combination edits or inactivated ChartFields. You can then review the journals using journal inquiry after you edit them.

  30. Viewing Revaluation Steps Step 28 Use the Budget Check Journal(s) option to submit journal entries to the budget processor for the control budget.

  31. Viewing Revaluation Steps Step 29 Use the Post Journal(s) option to post journals to the target ledger as part of revaluation processing. When you process multiple revaluation steps together, and each step depends on the results of the previous step, you must select this option for all but the last step to provide updated ledger balances for each subsequent step. In the last step, posting the journals is optional. The journals created by multicurrency processing are not intended or designed to be viewed using the journal entry pages before running journal edit or journal post.

  32. Viewing Revaluation Steps Step 30 Use the Target to Adjustment Period option to specify an adjustment period as the accounting period for the revaluation journals. Enter a period in the Target Adjusting Period field. An adjustment period revaluation journal can only be reversed to an adjustment period. If you want to reverse the journal, click the Reversal link and select the Adjustment Period option to enter an adjustment period in the Specify field on the MultiCurrency Process Journal Reversal page.

  33. Viewing Revaluation Steps Step 31 The Reversal link allows access to the Multicurrency Process Journal Reversal page. To facilitate period-based reporting, the system generates a reversal for the period that follows the revaluation process period. The net amount that results in the target ledger represents the current period year-to-date (YTD) amount less the reversal amount generated by the previous period process run. The reversal journal date is calculated using the as of date of the process request, the reversal option, and the business unit calendar.

  34. Viewing Revaluation Steps Step 32 Use the ChartField fields in the Target Chartfields section to select the ChartFields to be included in the revaluation journal entries. These ChartFields relate to the ChartFields that you specified on the Specifying Gain and Loss ChartFields for the Revaluation page. If you are balancing by ChartFields, include all balancing ChartFields as your target ChartFields.

  35. Viewing Revaluation Steps Step 33 You can select the Retain Value option or you can enter a ChartField value in the Chartfield Value column. If you select ChartFields, the ChartField values are carried over from the source transaction entries to the system-generated position accounts. For the ledger defined on the Ledger and TimeSpan page and for a balancing ChartField as defined in the ledger group, if you select the Retain Value option for the gain and loss ChartFields, then you must also select it here, for the Target ChartField. If you do not select the Retain Value option for gain and loss ChartFields, then it is deselected for the Target ChartField. All three fields must have the same ChartField value if the Retain Value option is deselected.

  36. Viewing Revaluation Steps Step 34 If you did not select the Retain Value option, then use the ChartField Value field to specify the ChartField value to be used for the system-generated target account. If you enter a ChartField value here, the system ignores the ChartField value on the source transaction entry. When a ChartField value is not included in target ChartFields, it is blank for the target journals. You can create extra gain or loss entries from multiple runs of revaluation if the gain ChartField value is different from the corresponding loss ChartField value.

  37. Viewing Revaluation Steps Step 35 Click theGain and Loss Chartfieldstab.

  38. Viewing Revaluation Steps Step 36 Use the Gain and Loss Chartfields page to identify the revaluation gain and loss accounts or to specify the accounts for which you record translation gain or loss.

  39. Viewing Revaluation Steps Step 37 Use the Gain ChartKeys grid to enter the ChartField and either select the Retain Value option or enter a value in the ChartField Value field.

  40. Viewing Revaluation Steps Step 38 Use the ChartField field to indicate the ChartFields to be included in the revaluation gain and loss journal entries. If you are balancing by ChartFields, include all balancing ChartFields (do not include business unit and currency) as your target ChartFields.

  41. Viewing Revaluation Steps Step 39 Select the Retain Value option or enter a ChartField value in the ChartField Value field. If you select the Retain Value option, the system carries over the ChartField values from the source transaction entries to the system-generated position accounts.

  42. Viewing Revaluation Steps Step 40 Select the Retain Value option for a ChartField for both gain and loss, or for neither. That is, for the same ChartField, either select both options or deselect  both options.

  43. Viewing Revaluation Steps Step 41 For the ledger defined on the Ledger and TimeSpan page, used for a balancing ChartField as defined in the ledger group, if Retain Value is selected for the gain and loss ChartFields, then it also must be selected for the Target ChartField. If the Retain Value option is deselected for gain and loss ChartFields, then it must be deselected for the Target ChartField. All three fields must have the same ChartField value if the Retain Value option is deselected. You can create extra gain or loss entries from multiple runs of revaluation if a ChartField is set to retain value in gain or loss but not in target. If some ChartFields are not included as target ChartFields, they will be deselected.

  44. Viewing Revaluation Steps Step 42 If you did not select the Retain Value option, use the ChartField Value field to specify the ChartField values to be used for the system-generated target account. If you enter a ChartField value here, the system ignores the ChartField value on the source transaction entry. When a ChartField value is not included in target ChartFields, it is blank for the target journals.

  45. Viewing Revaluation Steps Step 43 Use the Loss ChartKeys grid to enter the loss ChartField and select the Retain Value option, or enter a ChartField value. The field definitions for the loss ChartFields are the same as for the gain ChartFields. If a ChartField retains value for gains, then it must retain value for loss; the converse is also true.

  46. Viewing Revaluation Steps Step 44 When you balance by ChartFields, if a balancing ChartField is designated as a gain or loss ChartField, then the balancing ChartField overrides the value specified on this page.

  47. Viewing Revaluation Steps Step 45 You have successfully viewed an existing revaluation step. End of Procedure.

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