Exchange Rate Revaluation for TURKEY

There are the following caveats in TURKEY for exchange rate revaluation:

  1. Cash accounts need to be revaluated via a different effective exchange rate other than the running rates
  2. Bank accounts need to be revaluated as per the central bank exchange rates (no issue on that)
  3. There are different accounts for:
    a. Exchange Rate Revaluation Gain
    b. Exchange Rate Revaluation Loss
    c. Exchange Rate Gain/Loss on Advances Piad/Received
    d. Revaluation Gain Account for other currencies (such as gold, etc.)
    e. Revaluation Loss Account for other currencies (such as gold, etc.)
  4. There is also the Cost Center assignment problem, however, it can be handled on the associated Journal Entry.

Can we start a customization/localization set for Turkey?

1 Like