The purpose of currency corrections is to adjust currency transactions with reference to the current exchange rate when the report is produced, in order to produce accounts that are as accurate as possible. In the Currency corrections table you enter the cost-coding rules for computed exchange rate differences. You register accounts for profit/loss in the balance sheet and the profit and loss account. You can have several rows for the same account type with different account ranges.
You should update the Exchange rates table. In the case of an exchange rate adjustment on a particular day, Visma Business performs the adjustment using the adjustment rate in the following order of priority:
The Bedriftsopplysninger table contains the Maximum currency correction field in which you specify the maximum accepted exchange rate difference in per cent and in default currency. In the Currency correction voucher series, you enter the voucher series which will be used when posting exchange rate differences.
Example
The example below shows how you can perform an exchange rate adjustment from the Customer transactions table.
There is an outgoing invoice which was posted on 23.01.2004 for £1960. The exchange rate is 11.721.
You execute the "Currency correction" processing and bring up the "Currency correction" dialog box.
Here you select the exchange rate adjustment date. To ensure the correct exchange rate adjustment, the Currency table must be updated.
The processing updates the Currency correction data table.
If lines are generated without an x in the Accepted field, you must manually enter an x for these entries in order for Visma Business to be able to process them further.
The example shows the exchange rate difference -1373.78 in default currency. This amount will be posted as an exchange rate gain in the profit and loss account you specified in the Currency corrections table.
You are now ready to update the entry using the Update currency correction processing.
The processing updates the fields for currency corrections in the Customer transactions table.
The exchange rate gain will be posted in a batch with origin code Currency correction. Visma Business creates the voucher per currency and the currency number will be specified in the Extra text field on the voucher line.
If you perform another exchange rate adjustment with a lower exchange rate so that there is an exchange rate loss, Visma Business will create two new vouchers in the Voucher table when you execute the Update currency correction processing. There will then be one voucher with the back transfer of the previously posted difference and one with the posting of the new difference.
After the invoice has been deposited, there will still be a value in the Last currency correction amount field. You must then perform another exchange rate adjustment in order to transfer back the last exchange rate adjustment. You should therefore always take into account entries with a value in the Outstanding amount and Last currency correction amount fields when you perform a filter on ledger entries for which you want to perform an exchange rate adjustment.