VAT Exchange Rate Adjustment Field, General Ledger Setup Table
Specifies how the accounts set up for VAT posting in the VAT Posting Setup table will be adjusted for exchange rate fluctuations between LCY and the additional reporting currency, if you post in an additional reporting currency.
Exchange rate gains and losses are first posted when you run the Adjust Exchange Rates batch job. When you run the Adjust Exchange Rates batch job, the program finds the adjustment exchange rate in the Currency Exchange Rate table and then compares the amounts in the Amount and Additional-Currency Amount fields on the VAT entry to determine if there is an exchange rate gain or loss.
The batch job uses the option you select in this field to determine how to post exchange rate gains or losses for VAT accounts.
You can select one of three options:
| Option | Description |
|---|---|
No Adjustment |
The program assigns this option as a default. No exchange rate adjustment is made to the VAT account. |
Adjust Amount |
If you select this option, LCY will be adjusted for any exchange rate gains or losses. The program will post any exchange rate gains or losses to the VAT account (the Amount field) and to the accounts you specified for gains or losses in the Realized G/L Gains Account or Realized G/L Losses Account field in the Currency table. |
Adjust Additional-Currency Amount |
If you select this option, the additional reporting currency will be adjusted for any exchange rate gains or losses. The program will post any exchange rate gains or losses to the VAT account (the Additional-Currency Amount field) and to the accounts you specified for gains or losses in the Realized G/L Gains Account or Realized G/L Losses Account field in the Currency table. |
Tip
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Parent Tables
| Table | Location |
|---|---|
| Global Dimension 2 Code Field, General Ledger Setup Table | General Ledger |
| Global Dimension 2 Code Field, General Ledger Setup Table | General Ledger |
| General Ledger Setup Table | General Ledger |
| Global Dimension 2 Code Field, General Ledger Setup Table | General Ledger |
| General Ledger Setup Table | General Ledger |
| Global Dimension 2 Code Field, General Ledger Setup Table | General Ledger |