Posting Periods and Transaction Dates for Realized Gain and Loss
Realized Gain and Loss Posting Period Behavior
When a payment is applied, the currency revaluation posts in the later of the source transaction or the payment transaction period, provided that period is open. An invoice, vendor bill, or journal entry is the source transaction. The payment transaction can be a payment, credit memo, customer deposit, or journal entry.
If the source and payment transactions are both in closed periods when the payment is applied, the accounting preference Default Posting Period When Transaction Date in Closed Period determines the currency revaluation posting period. The posting is in either the current period or the first open period, depending on the value selected in the accounting preference.
A realized gain or loss can post in an adjustment period only if the journal for the later of the payment or source transaction is posted to that same adjustment period.
Realized Gain and Loss Transaction Date Behavior
Open Accounting Period Behavior
When a payment is applied to a source transaction, the currency revaluation's transaction date is the latter date of the source and payment transaction dates, provided the source or payment's accounting period is open. This rule also applies to locked periods if you have the Override Period Restrictions permission. For more information about this permission, see Process Transactions for Locked Posting Period.
Locked or Closed Accounting Period Behavior
If the accounting preference, Allow Transaction Date Outside of Posting Period, is set to Allow:
Suppose your source and payment transactions are both posted to closed or locked accounting periods, and you do not have the Override Period Restrictions permission. When your payment is applied to a source, the accounting preference, Default Posting Period When Transaction Date in Closed Period, determines the currency revaluation's posting period. Depending on this preference, the currency revaluation's posting period is either the first open period or the current period. In such cases, the currency revaluation's transaction date is the later date of the source, payment, and the first day of the determined posting period.
Now, if you have the Override Period Restrictions permission, and your source and payment periods are locked, the currency revaluation's transaction date is the latter date of the source and payment dates.
If the accounting preference, Allow Transaction Date Outside of Posting Period, is set to Disallow:
In this scenario, the Default Posting Period When Transaction Date in Closed Period preference is restricted to Current Period.
You cannot edit this preference unless you change the Allow Transaction Date Outside of Posting Period preference to allow.
Suppose your source and payment transactions are both posted to closed or locked periods, and you do not have the Override Period Restrictions permission. When your payment is applied to a source, the currency revaluation's transaction date is the first day of the current period.
Now, if you have the Override Period Restrictions permission, and your source and payment periods are locked, the currency revaluation's transaction date is the latter date of the source and payment dates. For more information about accounting preferences, see General Accounting Preferences.