Stock Extra: Currency Stock Revaluation

Go to Stock > Extra > Currency Stock Revaluation

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Currency Stock Revaluation

Use this form to revalue stock items based on updated currency exchange rates.

Steps:

1. Enter the exchange rate manually, or click the Refresh Rate button to automatically retrieve the latest rate.

•Note: Before using Refresh Rate, ensure the currency rate is updated in the Currency form.

2. Click the Revaluate button to:

•Adjust the average cost price.

•Update the supplier list price.

•Post an adjustment journal to the General Ledger, reflecting the difference between the old and new average cost prices.

Stock item details will be updated to reflect the revaluation.

Important Notes:

•Revaluation only applies to stock items that have a buying currency specified in the Cost and Selling Prices tab.

•During the GRN (Goods Received Note) process, the exchange rate is saved in the Stock Detail.

•Revaluation considers purchases/GRNs that are still active based on current on-hand quantities.

•A new stock value is calculated based on the difference in exchange rates (previous vs. current), and a stock adjustment is made to reflect the updated cost.

•The Supplier List Price (in Rand) is also updated according to the Supplier List Currency. (The GRN process sets this based on the supplier.)