Specify dimensions on realized gains or losses

Introduction

In 2024 release wave 1, the same concept applies when you submit payments to invoices in foreign currencies. The dimensions assigned to entries that are posted to realized gains and losses accounts are controlled by a setting on the Application FastTab on the General Ledger Setup page. The setting, Dimension Posting, offers three options:

G/L Account Dimensions: G/L entries for realized gains and losses have dimensions values that were transferred from the realized gains and losses G/L account’s dimension settings source entry.

Source Entry Dimensions: G/L entries for realized gains and losses have dimensions values that were transferred from the application entry. NoteThe application entry is usually the payment entry—for example, when you apply and post payments in journals—but can also be an invoice or credit memo if you select them as the applying entry from the customer/vendor ledger entries.

No Dimensions: G/L entries for realized gains and losses won’t have dimensions values.

Understanding Your Requirements

We all knew the feature lacking for unrealised loss posting was the default dimensions posted with the entries.

Result

You can now tailor your FX postings with the correct postings if you control your income account dimension posting correctly to show the correct source dimension for the financial impact.

Conclusion

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