Journal Entry Debit to Accounts Receivable or Credit to Accounts Payable is not Included on Currency Revaluation

Problem:

Journal entry debit to Accounts receivable or credit to accounts payable is not included on currency revaluation

Journal entry:

Debit to Accounts Receivable = 100
Credit to Sales = 100

Or

Debit to cash = 100
Credit to Accounts payable = 100

1. Check the Accounts receivable account set up
--- Navigate to Lists> Accounting> Account> Edit
--- Revalue Open Balance for Foreign Currency Transactions

2. Check the currency exchange rate
Ex. Canadian Dollar
---4/12/2012 = 0.752666
---4/13/2012 = 0.78963322

3. Navigate to Transactions> Financial> Revalue open currency balances
---On Account type select Accounts Receivable
---Mark the account receivable entered on journal entry
---Click Save

4. Foreign Currency Revaluation: Status is complete with 0 transactions

Expected result: The journal entry should be revalued

Answer:
Journal entry without customer/vendor name is considered as closed transaction.
Before it can be considered as an Open receivable or payable for revaluation, the customer/vendor should be associated to the Accounts receivable or accounts payable line in the Journal Entry.


To validate edit the journal entry and add customer name on the receivable line.
Perform revaluation
Foreign Currency Revaluation: Status is complete with 1 transaction which is the journal entry