Foreign companies operating in the Russian Federation maintain fixed asset accounts in their own currency, but are also required to generate a recalculation in rubles for Russian tax accounting. If the fixed asset is valued in a foreign currency, the accounting currency is specified in the asset record. Cost figures for all transactions are specified both in the accounting currency and in the original company currency at the exchange rate in effect on the transaction date. When you change the currency exchange rate, the asset is revalued in rubles, in correspondence with the profit and loss accounts, which are maintained in rubles.

You can perform individual or group currency revaluation transactions for the value of objects of depreciated property. When you perform group transactions, the records are updated to reflect the currency revaluation and the depreciation is calculated at the rate in effect on the date of the transaction. When you perform individual transactions, the currency revaluation and depreciation are calculated in two separate transactions.

When currency is revaluated, the following actions occur:

  • Corresponding transactions are created in the ledger.

  • The depreciated cost of the fixed asset is updated.

  1. Click Fixed assets> Common Forms> FA journalto open the Journalform.

  2. On the Overviewtab, press CTRL+N to create a new journal.

  3. In the Namefield, select a journal name.

  4. In the Descriptionfield, view or modify the description of the journal.

  5. Click Linesto open the Journal voucherform to create fixed asset transactions.

  6. Press CTRL+N to open the Add to journalform.

  7. In the Transaction datefield, select the date of transaction.

  8. In the Transaction typefield, select Currency cost revaluate.

  9. In the FA numberfield, select a fixed asset number.

  10. In the Value modelfield, select a fixed asset value model.

  11. In the Reason codefield, select a reason code.

  12. In the Reason commentfield, view or modify the reason for the currency revaluation.

  13. Click OK. The lines in the journal are created only if the currency exchange rate for the asset changes.

  14. In the Datefield, view or modify the transaction date.

  15. In the Transaction textfield, select a transaction text.

  16. In the Debitfield, view or modify the revaluation amount.

  17. In the Currencyfield, view or modify the currency for the transaction.

  18. Click Post> Postto post the journal. The fixed asset and ledger transactions are created.

  19. Press CTRL+S or close the form.

    Note Note

    Click Fixed assets> Common Forms> Fixed assets> Value models> Balanceto open the FA balancesform to view the updated amount in the Currency cost revaluatefield. You can view the updated amount for currency revaluation of depreciation in the Currency depreciation revaluatefield.

See Also