{"id":2041,"date":"2023-08-28T22:51:22","date_gmt":"2023-08-28T22:51:22","guid":{"rendered":"https:\/\/nsaq.io\/docs\/%d8%aa%d9%82%d9%8a%d9%8a%d9%85-%d8%a7%d9%84%d8%b9%d9%85%d9%84%d8%a7%d8%aa-2\/"},"modified":"2023-10-11T19:29:37","modified_gmt":"2023-10-11T19:29:37","slug":"currency-evaluation","status":"publish","type":"post","link":"https:\/\/nsaq.io\/en\/docs\/currency-evaluation\/","title":{"rendered":"Currency Evaluation"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]\n
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This page reviews everything related to the currency evaluation page, how to access it, its features, and how to conduct a currency evaluation.<\/span><\/p>\n

To access the “Currency Evaluation” page, please follow these instructions:<\/strong><\/span><\/h3>\n
    \n
  • Start by clicking on the “Financial” section available in the main menu of the system.<\/span><\/li>\n
  • You will be presented with the financial screen that offers a range of options and sections related to finance and financial matters.<\/span><\/li>\n
  • Please search in the top bar of the page for the “Financial Accounts” icon.<\/span><\/li>\n
  • After selecting “Financial Accounts,” click on it to open a new page containing various options related to currencies and related matters.<\/span><\/li>\n
  • Right on this page, you will find a dedicated link to the “Currency Evaluation” page. Click on this link to access the Currency Evaluation page.<\/span><\/li>\n<\/ul>\n

     <\/p>\n

    Concept and Advantages of the Currency Evaluation Page:<\/strong><\/span><\/h3>\n

    The Currency Evaluation page provides an essential service aimed at improving and facilitating the evaluation of financial transactions related to foreign currencies in the financial system. This is done by determining the value of these transactions based on the exchange rate of foreign currencies against the official currency of the company or institution.<\/span><\/p>\n

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    • \n

      Accurate Exchange Rate Determination:<\/span><\/h4>\n
        \n
      • The success of this process requires precise determination of the exchange rate of foreign currencies. This is done through the “Currency Exchange” page in the system, where the exchange rate of each foreign currency against the official currency is recorded based on specific dates. This procedure ensures documenting the date and value of each currency exchange.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

         <\/p>\n

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        • \n

          Evaluation and Settlement of Differences:<\/span><\/h4>\n
            \n
          • After recording the exchange rate for foreign currencies, the Currency Evaluation page reevaluates the relevant financial values. This is done by calculating the differences between the values of financial transactions in foreign currencies and the corresponding value in the official currency using the exchange rate. These differences are automatically settled through a daily journal entry affecting the bank account associated with the foreign currency, while currency differences are recorded in a separate account.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

             <\/p>\n

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            • \n

              Ease of Use and Efficiency:<\/span><\/h4>\n
                \n
              • The system enables this process with high efficiency and minimal manual intervention. The system calculates differences and executes the necessary journal entries for each foreign currency automatically. With a single click, all tasks related to currency evaluation and settlement are performed.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n

                In conclusion, the Currency Evaluation page allows companies and institutions to improve the accuracy of their financial assessments related to foreign currencies and reduce the manual effort required. Through daily evaluation and automatic settlement, it becomes possible to focus on other important activities within the institution, contributing to increased efficiency and improved financial operations performance.<\/span><\/p>\n

                Explanation of How to Perform Currency Evaluation:<\/strong><\/span><\/h3>\n

                Performing currency evaluation is easy and straightforward, following these steps:<\/span><\/p>\n

                  \n
                • Select the Desired Evaluation Date:<\/strong> The process begins by specifying the date you wish to perform the evaluation based on available financial information. You can adjust the date if needed. The date is automatically set based on the current date.<\/span><\/li>\n
                • Retrieve the Latest Exchange Rates:<\/strong> When you select the evaluation date, the system searches for the latest recorded exchange rate for each foreign currency. These rates are recorded on the “Currency Exchange” page within the system.<\/span><\/li>\n
                • Determine the Approved Exchange Rate:<\/strong> The system relies on the recorded date preceding the evaluation date to determine the approved exchange rate for each currency.<\/span><\/li>\n
                • Execute the Evaluation Process:<\/strong> Once the approved exchange rates are determined, you can click on the “Currency Evaluation” button. At this moment, the system starts calculating the value of financial transactions in foreign currencies using the approved rates, identifies the differences, and performs journal entries accordingly.<\/span><\/li>\n<\/ul>\n

                  Using this guide, companies and institutions can efficiently conduct currency evaluations with precision documentation, contributing to improved financial performance and gaining a better understanding of the institution’s financial status.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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                   <\/p>\n

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