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Current exchange rate evaluation transactions refer to the appreciation and determination of the value of country currencies. When evaluating foreign currencies, their values on the day and time are taken into consideration. Foreign currencies are subject to the evaluation provisions of VUK. To obtain comprehensive information regarding the evaluation, article 280 of the relevant law can be examined. The current exchange rate is the national currency value created by the demand and purchase of one unit of foreign currency in foreign exchange markets. In short, this value is the reflection of the foreign currency exchanged with the national currency on the same day.

Path: ERP > Finance-Accounting > Current > Current Transactions Exchange Rate Valuation

Differences between buying and selling give rise to current exchange rate valuation transactions. Current exchange rate valuation transactions must be carried out during provisional tax periods and at the end of the period. In end-of-period valuations, cash in cash in foreign currencies is valued at the effective buying rate. Positive exchange rate difference is recorded as a credit to the cash account, account number 646, against a debit. Negative exchange rate difference is recorded as a debit to the cash account, account number 656, against a credit.

Current Account: To perform exchange rate valuation for a specific current account, specify the relevant current account in this field.
Member Category: By selecting a member category instead of selecting a single current account, all current accounts in the selected member category can be listed.
Transaction Date: In these fields to perform current exchange rate valuation for transactions made within a certain date range. Specify the dates you want.
Currency: Select the currency in which the transaction will be made.
Debit/Credit Status: Select for which members (debtor/creditor) you will perform the exchange rate valuation.
Sales Region: To perform current exchange rate valuation according to a specific sales region, specify the relevant sales region in this field.
Member Special Definition: To perform current exchange rate valuation according to the special definition specified for members, specify the relevant special definition in this field.

Relevant Current/Current and exchange rate valuation will be carried out. After the transaction(s) are selected, the registration process is carried out by entering the following criteria.

Transaction Date: The current date will be displayed automatically in the transaction date field. The date can be changed.
Accounting Code: Specify the accounting code for accounting for the exchange rate valuation transaction.
Cost/Revenue Center: Specify the cost/income center for the current exchange rate valuation transaction.
Expense/Revenue Item: Current Specify the income/expense item for the exchange rate valuation process.
Project:Indicate which project you are performing the current exchange rate valuation process on.
Get Cons/Pros: To add only records with negative values in the bulk receipt, bring minuses, to add only records with positive values, bring pluses box. mark. Both cannot be selected together

Hint: In order to perform the current exchange rate valuation process, the "Debit/Credit Exchange Rate Valuation Receipt" transaction category must first be selected by selecting the relevant criteria.

Current Exchange Rate Valuation. Accounting and Operating Logic of the Transaction

The debit/credit balance of the current accounts gives the balance of the relevant current account (Debit-Credit=Balance). A receipt is added for the difference and this receipt is recorded in accounting as follows. In this way, TL balances are zeroed.

Attention:The exchange difference invoice is issued by the party who has a surplus in TL account after the exchange rate valuation process. If a payment exceeding the invoice amount is received, a foreign exchange difference invoice must be issued, including VAT.

Type: There is no need to issue an exchange difference invoice for end-of-period tax calculations. Exchange difference invoice is an adjustment transaction. It is deducted for the correct accrual of the taxes (VAT and Income Tax) to be paid regarding the relevant invoice. Differences in the end-of-period exchange rate valuation are recorded in the exchange rate difference income accounts if +, and in the exchange rate difference expense accounts if -.

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Exchange Valuation Transactions | Current

Type: WBO Version: Catalyst v5 Licence: Standard Author: Workcube Core