Functional Currency Revaluation

[Boris10]

Our Functional Currency is being revalued by the Government. We are therefore required to remove three zeros from every account in all modules. Is there a quick way of doing it programmatically via a macro rather than doing excel imports?

 

[ettienne]

Zimbabwe again? Contact your local Sage Accpac support office and hear what they say, I know there were some utilities written to handle this. There is no quick fix by the way, the right thing to do is create a new company and export/import. This export/import/revalue process can be macro driving though to make life easier.

 

[Boris10]

Hehehe, nice one Ettienne, its actually Zambia. If we create a new company we are simply bringing over the opening balances isnt it, without having the hystorical data?
What i was thinking to do was to get closing balances module by module, reduce the three zeros in all accounts, by passing transactions against a clearing account in GL, which will be null after all the debit credit transactions are passed.

 

[ettienne]

Nope, you can do historical transactions for the GL. AP & AR I would just do open transactions, history is too much of a pain.
Check with Softline SA, the currency devaluation has been done in Zimbabwe and Mozambique in recent years and I'm sure they would have pointers on how to do it.
Anyway, I have macros that read transactions from 1 company and pull them into another company. Modifying them to devalue the transactions by a factor should be simple.
What I would not do is try to whack 3 zero's off the values in the live database, not a good idea.