AFS Rate

Here you can enter AFS (Annual Financial Statement) rates for different currencies used when recording exchange rate differences in the accounts payable and accounts receivable ledgers.

During the year-end closing, a valuation of these two lists are made and booked on a voucher. This is made in the Revaluate Ledgers procedure, under the Switch Year/Period menu in the Accounting module.

In the Chart of Accounts / Standard Accounts procedure, under Tables in the Global Settings module, the Exchange rate profit and Exchange rate loss accounts are used.