This program is used for bank account FIFO valuation. The product was developed based on JD Edwards end-user needs and should be considered as polish (and not only) best business practices. It allows to decrease time and cost associated to this manual, human prone errors activities usually done on side in MS Excel. Solution allows to:
Adjustment of PLN value of transactions in a monetary account by adding an applicable amount of exchange rate differences calculated using FIFO method.
Full flexibility of exchange rate differences calculation in cases where the balance character changes overtime from positive to negative (for overdrafts) by calculating the differences:
for money outflows only when the balance before transaction is positive and only to the balance amount
for money inflows only when the balance before transaction is negative and only to the balance amount
Ability to start calculation at any given time by averaging exchange rate for all transaction posted before a specified date in the past. The cut-off date is user definable.
Automatic creation of supporting journal entries in general ledger for amounts calculated.
Detailed transaction posting of amounts calculated by every detailed transaction that caused exchange rate differences.
Analysis of exchange rate differences amounts based on a detailed calculation report.
