This document shows how to update the mark to market (MTM) revaluation of foreign exchange trade in the system.
WHY IS THIS IMPORTANT?
System computes MTM for foreign exchange trade automatically. However, there are cases where the MTM need to be based on what is provided by the bank due to audit requirements. This feature allows manual update of mark to market value so that accounting journals can be generated and posted to external ERP system.
1. From the main menu, select Transaction > Foreign Exchange.
2. Change the MTM Date to the desired date. Usually this is the month end date. In this example, 30/06/2017 will be inputted so the MTM for the month of June can be recorded. Click Refresh.
3. Type in the MTM as received from the bank or counterparty in the accounting centre’s base currency.
4. Tick on the checkbox of the TradeID.
5. Click Update MTM. A popup appears, click Yes.
6. The MTM is successfully saved on 30-Jun.
7. The MTM value saved will be recorded in the month end journals of this foreign exchange. See example below.
FREQUENTLY ASKED QUESTIONS