FX Revaluations – Error Messages

This article covers most error messages that might appear when trying to do FX Revaluations.

1. If you get the below error when attempting to revalue your foreign currency, please contact iplicit support for additional assistance. It is likely your environment has not been set up to complete FX revaluations.

2. If you get the below error then on your FX documents, GL only has not been ticked and therefore the revaluation will not be created.

To resolve this, go to the relevant revaluation document s, on the others tab, you will need to tick GL only and then save. Please make sure this is done on all required revaluation documents before trying again. 

3. If you get the error below when attempting to do an FX revaluation, the batch series has not been set in your environment defaults.

You will need to go to environment defaults, under the header for FX, the FX revaluation batch series needs to be set as post. Once done click save and reload iplicit for the change to take effect. 

4. Should you get the below error this indicates there is a missing account default for your unrealised foreign currency differences. 

To address this, you will need to go to the ‘account defaults’ screen and on the FX subgroup, select FX: Unrealised. 

5. For the following error, an environment default setting is required to be put in place.

Go to document types on the environment defaults screen and set the auto reversing batch series to post. 

6. The following error occurs when the default environment setting for FX revaluation reversal is not configured. As a result, the FX revaluation is generated, but the automatic reversing document is missing. This issue may also affect multiple reversal documents if they are not properly set.

This would make the values of the revaluation show as unbalanced due to the reversing contra not being present in the General Ledger.