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Exchange Rate Revaluation

Exchange Rate Revaluation adjusts the value of foreign currency accounts at the end of an accounting period to reflect current exchange rates. This is important for Saudi businesses that hold accounts in USD, EUR, or other foreign currencies.

Why Revaluate?

If you have:

  • A bank account in USD with a SAR 3,750,000 balance (at 1 USD = 3.75 SAR)
  • The exchange rate changes to 1 USD = 3.80 SAR
  • The SAR value of that account should now be SAR 3,800,000 (a gain of SAR 50,000)

Revaluation captures this gain or loss in your books.

How to Perform Revaluation

  1. Go to Accounting > Exchange Rate Revaluation and click New.
  2. Select the Company.
  3. Set the Posting Date (typically month-end).
  4. The system shows all foreign currency accounts with their current book value and revalued amount.
  5. The difference is the Exchange Gain/Loss.
  6. Click Save and Submit.

The system creates a Journal Entry posting the gain/loss to the Exchange Gain/Loss Account configured in your Company master.

Accounts Revalued

  • Bank accounts in foreign currency
  • Accounts Receivable in foreign currency
  • Accounts Payable in foreign currency
  • Any account with a currency other than the company currency