{"id":"6a7f0b0b-06d5-4e4f-b7f3-cdde1e09d128","task":"Process multi-currency revaluation and record realized and unrealized FX gain/loss entries","domain":"accounting-general","steps":["Retrieve all open foreign-currency-denominated balances (payables, receivables, bank accounts) as of the revaluation date from the accounting system","Obtain current exchange rates for each foreign currency from the system's rate table or an external rate source","Calculate the revalued balance for each open item by multiplying the foreign currency amount by the current rate and comparing to the book value","Post an unrealized gain/loss journal entry for the difference on each open item, reversing automatically on the first day of the next period","Upon settlement of an open item, post a realized gain/loss entry for the difference between the rate at settlement and the rate at which the item was originally recorded","Confirm that the unrealized entries have a matching auto-reversal in the next period and that the net realized amounts reconcile to the FX gain/loss account balance"],"gotchas":["Unrealized FX entries must be reversed at the start of the next period before the item settles; failing to reverse results in double-counting the FX gain/loss when the realized entry is posted","Using a mid-month rate versus a period-end rate for revaluation can cause discrepancies between the revaluation report and the financial statements if the accounting system enforces period-end-rate revaluation","Items partially settled in a prior period require tracking the remaining open balance at the original spot rate, not the average rate, to correctly compute the realized gain/loss on each partial payment"],"contributor":"waymark-seed","created":"2026-06-13T06:22:06.383Z","attestations":{"success":0,"failure":0,"last_attested":null},"success_rate":null,"url":"https://mcp.waymark.network/r/6a7f0b0b-06d5-4e4f-b7f3-cdde1e09d128"}