Revaluing closing balances - Revision history

Steve at 11:04, 25 February 2018

2018-02-25T11:04:01Z

← Older revision		Revision as of 11:04, 25 February 2018
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			==Revaluing closing balances==
	[[image:currencyfile.jpg]]		[[image:currencyfile.jpg]]

	== New Rules ==		=== New Rules ===

	According to the above screen shot the rate dated 31/12/2007 will be used for:		According to the above screen shot the rate dated 31/12/2007 will be used for:
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	# The rate at the END of the day is logically the rate at the START of the following day		# The rate at the END of the day is logically the rate at the START of the following day

	== Old Rules ==		=== Old Rules ===

	This applies to versions of NEOSYS dated prior to 20/4/2007.		This applies to versions of NEOSYS dated prior to 20/4/2007.

Steve: 3 revisions

2008-07-31T21:26:47Z

3 revisions

← Older revision	Revision as of 21:26, 31 July 2008
(No difference)

77.68.3.139 at 18:22, 20 April 2008

2008-04-20T18:22:56Z

← Older revision		Revision as of 18:22, 20 April 2008
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	[[image:currencyfile.jpg]]		[[image:currencyfile.jpg]]

			== New Rules ==

			According to the above screen shot the rate dated 31/12/2007 will be used for:

			*normal transactions dated exactly 31/12/2007 and no later
			*NEOSYS automatic revaluation procedure for period 12/2007

			Transactions dated up to 30/12/2007 will use the rate effective from 1/1/2000.

			Transaction dated from 1/1/2008 onwards will use the rate effective on the 1/1/2008.

			All the above is fairly obvious, however, if there was no exchange rate on the 31/12/2007 then when you use the NEOSYS revaluation program to automatically revalue the closing balances of 2007 (as at 31/12/2007) NEOSYS would use the rate of the following day, in other words that of 1/1/2008.

			This perhaps surprising procedure has the following logic:

			# The currency file rates are considered to be effective from the START of the day in question
			# Revaluation is logically at the END of the day
			# The rate at the END of the day is logically the rate at the START of the following day

			== Old Rules ==

			This applies to versions of NEOSYS dated prior to 20/4/2007.

	According to the above screen shot the rate dated 31/12/2007 will be used only for normal transactions dated exactly 31/12/2007.		According to the above screen shot the rate dated 31/12/2007 will be used only for normal transactions dated exactly 31/12/2007.

77.68.3.139 at 08:33, 10 April 2008

2008-04-10T08:33:20Z

← Older revision		Revision as of 08:33, 10 April 2008
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	[[image:currencyfile.jpg]]		[[image:currencyfile.jpg]]

	In the above screen shot~~, as you would expect,~~ the rate dated 31/12/2007 be used for normal transactions ~~until~~ exactly 31/12/2007.		According to the above screen shot the rate dated 31/12/2007 will be used only for normal transactions dated exactly 31/12/2007.

	~~However~~ when you revalue the closing balances of 2007 it will ~~revalue using opening~~ rate of the following ~~date i.e.~~ 1/1/2008.		Transactions dated up to 30/12/2007 will use the rate effective from 1/1/2000.

			Transaction dated from 1/1/2008 onwards will use the rate effective on the 1/1/2008.

			All the above is fairly obvious, however, when you use the NEOSYS revaluation program to automatically revalue the closing balances of 2007 (as at 31/12/2007) NEOSYS will use the rate of the following day, in other words that of 1/1/2008.

	This perhaps surprising procedure is actually logical because:		This perhaps surprising procedure is actually logical because:

	# The currency file rates are effective from the START of the day in question		# The currency file rates are considered to be effective from the START of the day in question
	# Revaluation is logically at the END of the day		# Revaluation is logically at the END of the day
	# The rate at the END of the day is logically the rate at the START of the following day		# The rate at the END of the day is logically the rate at the START of the following day

Ashwin: New page: image:currencyfile.jpg In the above screen shot, as you would expect, the rate dated 31/12/2007 be used for normal transactions until exactly 31/12/2007. However when you revalue th...

2008-04-10T05:31:29Z

New page: image:currencyfile.jpg In the above screen shot, as you would expect, the rate dated 31/12/2007 be used for normal transactions until exactly 31/12/2007. However when you revalue th...

New page

[[image:currencyfile.jpg]]

In the above screen shot, as you would expect, the rate dated 31/12/2007 be used for normal transactions until exactly 31/12/2007.

However when you revalue the closing balances of 2007 it will revalue using opening rate of the following date i.e. 1/1/2008.

This perhaps surprising procedure is actually logical because:

# The currency file rates are effective from the START of the day in question
# Revaluation is logically at the END of the day
# The rate at the END of the day is logically the rate at the START of the following day