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what is the main difference between the MRC and Revaluation?
can any one tell me.
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Answer Posted / raghu kalavendi
MRC - Multiple Reporting currency is reporting aid which
converts day to day transactions to other foreign currency
as required.
Revalaution is revalaueing foreign currency amounts as per
current exchange rate.
In MRC the source transacation is in Functional currency .
In Revaluation the source transaction is in Foreign
currency.
For MRC we need 2 Set of Books Primary and Reporting
Revaluation can be in the same SOB where transaction
resides.
In MRC all transactions( Assets, Liabilities, Exp....)ir
respective of their type they get converted.
Revaluation is performed only on Assets and Liabilities.
MRC has to be set once and the transactions keep flowing
Revalaution has to be initiated by user.
| Is This Answer Correct ? | 13 Yes | 0 No |
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