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SK Foreign-Currency Revaluation (kurzové rozdiely)

Revalues foreign-currency balances at the reference rate of the balance-sheet date and books the differences on 563 and 663 — with the OCA wizard on Community and Odoo's adjustment entry on Enterprise.

What it is for

At the date the financial statements are prepared for, open receivables and payables in a foreign currency, foreign-currency bank accounts and cash are revalued at the reference rate of that day; the difference against their book value is an unrealised exchange gain or loss (kurzový rozdiel). The Slovak chart books these on 563 Kurzové straty and 663 Kurzové zisky.

Odoo itself books exchange differences only when a payment is reconciled (on the same 563 / 663, as Odoo's Slovak chart sets them). Revaluation at the balance-sheet date needs an extra tool, and which one depends on the edition:

Both install themselves when their tool and the Slovak chart (l10n_sk) are present. They set the accounts and the journal; the revaluation itself is done by the tool.

Legal background

• Assets and liabilities in a foreign currency are converted to euro at the reference rate set by the European Central Bank or Národná banka Slovenska — for transactions, on the day before the transaction; at the balance-sheet date, on the day the financial statements are prepared for (§ 24 ods. 2 of the Accounting Act).
• § 24 ods. 4 of opatrenie 740/2002 books the exchange difference from that valuation on 563 or 663, including differences on items carried on 383 and 385.
• Some items keep the rate of the original transaction and are not revalued: advances paid and received on 314, 324 and 475, similar items on 335, prepaid costs and deferred revenue on 381 and 384, and unbilled supplies on 326 until invoiced (§ 24 ods. 3).

Community: the OCA wizard

What the module sets

On every company with the Slovak chart — when the chart is loaded, or on install for a company that already has it:

They are in Accounting → Configuration → Settings, section Multicurrency revaluation, together with Auto Post Created Entries (off: the entries are created as drafts).

Before the first revaluation

1. Give yourself access. The OCA menus are visible only to members of the group Additional provisioning entries posting (Zaúčtovanie dodatočných rezervných zápisov), which nobody has by default. Add it on the user in Settings → Users, section Extra Rights, which appears in developer mode.
2. Choose the accounts to revalue. Tick Allow Currency Revaluation on each account whose foreign-currency balance is to be revalued: the foreign-currency bank and cash accounts (22x, 21x), receivables (311), payables (321) and others your accountant names. Leave it off on the accounts of § 24 ods. 3 — 314, 324, 475, 381, 384, 326.
3. Load the rates. The ECB reference rate for the balance-sheet date itself must be in Odoo.

Running the revaluation

Accounting → Accounting → Closing → Currency Revaluation (in Slovak Uzávierka → Precenenie meny):

1. Enter the Revaluation Date (the balance-sheet date). Clear Start Revaluation Period or set it early enough: only journal items dated on or after it are revalued, and it defaults to the first day of the current month, which at year-end would leave out every open item from earlier months. Check the journal and the Entry description pattern.
2. Check the list of accounts: it starts with every account flagged Allow Currency Revaluation, and you can remove or add accounts for this run.
3. Click Validate. For receivable and payable accounts one entry is created per account, currency and partner; for other accounts one per account and currency. Losses go to 563000, gains to 663000.

The Currency Revaluation Report under Accounting → Reporting → Closing Entries lists the unrealised differences. Reverse Currency Revaluation, in the same Closing menu, reverses revaluation entries of a chosen interval as of a date you set — whether to reverse at the start of the next period is your accountant's choice.

Enterprise: the adjustment entry

l10n_sk_currency_revaluation_ee (delivered separately) installs itself with Odoo Enterprise accounting and sets, on every Slovak company:

On install both accounts are overwritten, whatever was set before. Odoo's Slovak translation calls them Účet rezervy na náklady and Účet rezervy na výnosy; they have nothing to do with provisions (rezervy) — they are the counterpart accounts for the loss and the gain.

To revalue: Accounting → Review → Regularization Entries → Unrealized Currencies (in Slovak Kontrola → Regulatívne požiadavky → Kurzové rozdiely) opens the report. Set its date to the balance-sheet date and click Adjustment Entry (Korekčný záznam). The wizard proposes the entry: each foreign-currency account is adjusted, and the counterpart goes to 563000 for a loss or 663000 for a gain. A Reversal Date (Dátum storna) is required: Enterprise always posts the reversal of the adjustment on that date, typically the first day of the next period.

Limitations

• The modules set accounts and a journal only. On Community nothing is revalued until accounts are flagged Allow Currency Revaluation, and the menus stay hidden until a user is given the group mentioned above.
• Start Revaluation Period defaults to the first day of the current month and silently limits the revaluation to items dated from then on.
• The Enterprise report proposes every foreign-currency account; it does not know which items § 24 ods. 3 excludes. Exclude those accounts in the report (they move under Excluded Accounts; Odoo remembers the choice per account and currency) before creating the entry.
• Enterprise always reverses the adjustment on the reversal date; there is no option to keep it.
• The hook creates the journal KURZ on every Slovak company that has no revaluation journal set, whether or not it uses foreign currencies.