New user.

My functional currency is AUD. I have several multicurrency bank, creditor and debtor accounts.

I want to do a GL revaluation so that the AUD equivalent on the balance sheet matches the source currency at the spot rate at the end of the month.

We use the unrealised/realised method, the one that is supposed to make reversing entries.

Whenver I try to create a revaluation batch, I get the result "Description: No records were found to be revalued". The accounts I select have foreign currency transactions (almost all from subledgers, eg AR, AP and Bank services), I force revaluation. I hope I don't misunderstand what is supposed to happen. I have, for example, an account with a Euro balance of 1118 showing up as AUD 4425, which is very wrong (I have much bigger effects in other accounts).

These problem accounts are all multicurrency. They don;t have any AUD transactions; the Euro account only has Euro transactions, the GBP account only has GBP transactions, and so on. I have one revaluation code, using spot rates. I get the "no records" message regardless of which currency I try to revalue.

I'm not answering your question, but note that you should not revalue control accounts like AP and AR in the GL, you should revalue the AP and AR modules and let them post revaluation transactions to the GL.

Thanks Ettienne.

I got it working by not relying on the Force option of the currency revalution batch, but instead setting up revaluation account per account (where I needed it), and opening the GL as a subledger.

The second step bothers me because the main advantage of a control account, I thought, was to stop GL journal entries.

My AP and AR accounts need to be revalued even after the sub-ledger revaluation. At least, that's true of AP. The functional currency equivalent on my balance sheet does not match the subledger revaluation report for at least one of the currencies. I'll look into that later. After a first glance, it appeared that the AP revaluation journal had been posted twice or for some other reason doubled the correction. It may be something odd with open items I loaded from the previous system, MYOB (July was our first month live with AccPac)

Now that I've gone live on both of my companies and that accpac is running really well (hardly anyone noticed we changed systems, a very smooth implementation) I want to come back to understandng the exchange rate handling better.

I think Etienne's previous post on this thread implies that If my AR and AP control accounts consist entirely of open items, then the sub-ledger revaluations are all I need to do for AR and AP. Am I correct?

Control accounts are always revalued in the modules and not in the GL, otherwise the GL control account and the module will not balance. Transactions flow from the modules to the GL, but not the other way around.