Realized Gain / Loss Detail Report

In this article:

• Brief Description  
• Use Cases 
• Finding and Using the Report
• Available Filters
• Report Output
• Additional Notes

Brief Description  

This report is used for customers who trade in more than one currency. It shows the value of invoices when entered compared to value of payments made against them with the details of the gain or loss based on changes to the currency’s exchange rate between posting the invoice and it being paid. 

Use Cases 

When preparing financial reports to show the health of your business, it is important to be able to differentiate between any gains or losses you made from factors that are under your control from those you cannot such as fluctuations in exchange rates. For example, your firm might have made a 10% in income in the last quarter but if 50% of those gains were due to exchange rate changes, then the firm's performance would not be as great as initially thought. 

This report will show the details of each invoice received (both bills sent to clients and supplier/vendor invoices) and any gains or losses made through exchange rate changes.

Finding and Using the Report

• In Actionstep, go to Reports > Accounting Reports > Foreign Currency.

Then, refer to these articles for help generating and saving reports for future use:

• Reporting Overview
• Generating a Report
• Saving a Report Configuration

Available Filters

• Entered Date Range: Choose the date range based on the invoice payment date/supplier invoice payment date you want covered in the report. 
• Show zero dollar gain/loss: Include any invoices where the payment was at the same exchange rate as the invoice (zero gain/loss). 
• View Type: Choose the output for the report. 

Report Output

• Date: Shows the payment date.
• Type: Shows the type of sale/purchase item being paid 
• Payment: Shows the amount of the payment, including the currency it was paid in.
• Expected Rate and Payment: Shows the exchange rate applied to the invoice when was posted and the value of the invoice when converted to your base currency based on that exchange rate. 

• Actual Rate and Payment: Shows the exchange rate applied to the payment when it was created and the value of that payment in your base currency based on that exchange rate.

• Gain/Loss: Shows the amount gained or lost due to changes in the exchange rate. It is calculated by taking the expected payment amount less the actual payment amount.

  
  

Additional Notes

If you are not using multiple currencies in your system, an admin can hide this report from users by going to Admin > Users & permissions > Report permissions.