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To adjust the FX rate, follow these steps:

1. Check the VIP - Exchange Rates form and make sure that exchange rates are entered for the Eff Date from which you want to adjust exchange rates. (This is the date to enter in the Accounting Date From field.)
2. Check the VIP - Account Periods form and make sure that there is an entry in the Exch Diff field for the date range for which you want to adjust exchange rates.
3. In the Accounting Date From and Accounting Date To fields, enter the date range for which you want to adjust exchange rates, from step 1. (This checks the Accounting Date of transactions.)
4. In the Action field, select Adjust AP/AR, Adjust Advance, or Adjust Bank.
5. As needed, apply filters for Company(s), Curr(s), Counterparty(s), or Counterparty Type(s).
6. Click  to calculate the adjustment. A list is generated of all invoices that have an open balance.
   • Opening balance line items that reflect the Exchange Rate are labeled Adjust Bank (Beginning Balance).
7. Scroll through the list and review the items in black text.
8. If all amounts appear correct, click  to save. A Payment is automatically created against the original invoice for the amount in the Adjustment column, and then a Payment Reversal is created for the next date. The account set in Exch Diff in VIP - Account Periods is used as the clearing account for these two transactions. They can be seen in the Payments section of the VIP - Transaction Data Entry.

Clear Balance

To clear the balance, follow these steps:

1. Check the VIP - Account Periods form and make sure that there is an entry in the Exch Diff field for the date range for which you want to clear the balance.
2. In the Accounting Date From and Accounting Date To fields, enter the date range for which you want to clear the balance. Accounting Date To will be the posting date of the balance clear transaction.
3. In the Action field, select Clear Balance.
4. As needed, apply filters for Company(s), Curr(s), Counterparty(s), or Counterparty Type(s).
5. Click  to calculate the adjustment. A list is generated of all invoices with a zero invoice currency balance and a non-zero base currency balance.
6. Scroll through the list and review the items; these are the lines for which permanent adjustments will be posted.
7. If all amounts appear correct, click  to save. A Payment is automatically created against the original invoice for the amount in the Adjustment column. No reversal is created; these are permanent adjustments to clear balances on invoices caused by foreign exchange differences. The account set in Exch Diff in VIP - Account Periods is used as the clearing account for this transaction. It can be seen in the Payments section of the VIP - Transaction Data Entry form.

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