Oracle Fusion GL Revaluation

[@khayyamkhan5597]

great detailed explanation bro. I am fortunate to found your channel where learning becomes so easy because of the way you explain the stuff. Great work

[@OracleEbizandFusionVideos]

Glad to hear that

[@pavithraks1073]

Thank you Arvind. Very nicely explained!!

[@OracleEbizandFusionVideos]

Most Welcome

[@phanimurthypamidimarri8026]

Nice video. Thank you. Please create videos for Bills receivable and AP at Netting functionalities.

[@OracleEbizandFusionVideos]

Please see below video about AP/AR netting in my channel:- kzbin.info/www/bejne/aZ6rm4aahNVlkJY

[@rajnishkumar2408]

Wow. Nice explanation. Thank you so much ! It would be great sir if you can create video on Oracle GL translation in oracle Fusion. I know you have created video in EBS R12 but it would be great if you can create same in oracle Fusion also sir !!

[@OracleEbizandFusionVideos]

Sure

[@jagdishkoshti1802]

What is Days to Roll Forward?

[@vishnummenon5925]

Hi Arvind- Thanks for the video. Really great job. Couple of questions I had was 1. Is the Gain/Loss calculated with respect to the functional currency. I mean if yes, then usd is actually in a loss right? Because cad has gained from .80 to 0.66. 2. Are only Balance sheet accounts reversed monthly? If yes, do we need to perform additional steps like Auto reverse template setup go perform Autoreversal of the revaluation JEs?

[@OracleEbizandFusionVideos]

Answer to your Question 1:- If you look at the calculations, we had Accounts payable balance of 80 USD which is reduced to 66 USD after revaluation... i.e. your Liability is decreased by close to 14 USD and hence this is a unrealized gain and not loss Answer to your Question 2:- Yes, in general Balance Sheet accounts are revalued every month and these are revalued based on YTD balances... Yes, Revaluation entries are always created with Journal Source of "Revaluation" and in Auto Reversal Criteria set, these are always designated to Reverse "Next Month".... Note:- I have seen some clients, where due to some specific business reasons, they revalue certain P&L Accounts as well.. and they create separate revaluation templates for these and they do not reverse these entries at the end of every month as Revaluation is calculated for these balances on PTD balances

[@vishnummenon5925]

@@OracleEbizandFusionVideos thanks

[@OracleEbizandFusionVideos]

You are welcome

[@saikrishna89910]

Sir, so the Accounts payable balance (Accounted )in the GL inquiry window is now (66.67) after revaluation?

[@aniloracle6340]

Nice Video Sir Could you please Create one video for Allocation rules

[@OracleEbizandFusionVideos]

Sure I will

[@KumR]

Nice. Why negative amounts?

[@OracleEbizandFusionVideos]

Negative amounts denote the balance is Credit balance

[@ashokkopparthi5405]

In revaluvation unrealized gain&loss accounts created into supparated jv's right?and that jv currency is accounted currency

[@OracleEbizandFusionVideos]

Yes, thats correct... Revaluation journal is a separate journal entry and as i mentioned in the video, it will have impact only on Accounted Currency and no impact on Entered Currency

[@ashokkopparthi5405]

@@OracleEbizandFusionVideos Thanks for your valibuel answer

[@eswarv936]

Arvind, when we select the period to generate revaluation, if we change and use the back date for Accounting date and Rate date its not picking all currencies. Why?

[@OracleEbizandFusionVideos]

Does it mean that its working fine for all currencies in current period, but not working for all currencies for back dated period?

[@eswarv936]

@@OracleEbizandFusionVideos yes, if i select June period it will take date is end of the month 30-jun, if i change the date is 15th jun in accounting date and rate date, it's not picking all currencies. Need to know about that behaviour

[@OracleEbizandFusionVideos]

Did you leave Currency field blank in Revaluation template to consider all the currencies?

[@eswarv936]

@@OracleEbizandFusionVideos yes it's blank

[@OracleEbizandFusionVideos]

Then, i am assuming some kind of bug... Probably you need to raise Oracle SR for this issue.

[@viplavkumar5148]

Sir While making the payments/Receipts for the Payable/Receivable accounts what will the impact on forex loss/gain? How unrealised gain/loss will further be be adjusted with the realised gain/loss ?

[@OracleEbizandFusionVideos]

At the end of the day, both Unrealized gain/Loss and realized gain/loss are P&L Accounts and pushed to Retained earnings account at the end of the year... so, indirectly you are already adjusting realized gain/loss with unrealized gain/loss.... Hope this explanation answered your question...

[@aartijha7971]

In this translation is not required for running?

[@OracleEbizandFusionVideos]

Translation process is not required or not a pre-requisite for running Revaluation process.

[@kapilbohra6208]

Hi Sir, What happens in the following month. Like is revaluation entries get reversed, if so then what is the impact on unrealized gain/loss accounts.

[@OracleEbizandFusionVideos]

During Jan-22 month end the revaluation entry would be:- Ex:- If the Asset account before reval is say 1000 dollars and if it needs to be increased by 100 dollars, then reval entry would be:- Asset A/c Dr 100 Unrealized gain or loss A/c Cr 100 On first day of Feb-22, the above would be reversed and hence the entry would be:- Unrealized gain or Loss A/c Dr 100 Asset A/c Cr 100 Again during month end, you run the revaluation process and lets Asset account to be increased by say 60 dollars the entry would be:- Asset A/c Dr 60 Unrealized gain or Loss A/c Cr 60

[@kiranreddy5708]

Hi Aravind, thanks for video.. In GL revaluation system will generate below entry Payable/Receivable A/C -------Dr or CR Unrealized Gain/Loss Ac---- Dr or Cr Normally this entry will reverse next month. but when will go unrealized Gain/ Loss to Realized Gain/Loss account? what is the process?

[@OracleEbizandFusionVideos]

Hi Chandrakiran, sorry your sentence "but when will go unrealized Gain/ Loss to Realized Gain/Loss account?" is not clear... Can you rephrase your question

[@ramakrishnayaragarla2524]

Hi sir u know the revaluation formula

[@OracleEbizandFusionVideos]

Yes