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<@UCW6BN2DA> you may be mixing topics here. Currency revaluation and intercompany elimination work using different mechanisms

Currency reval is going to post the difference between the Value x FX at time of posting versus Value x FX of last day of the month (or &lt;today&gt; if you're running it mid-month)

in regards to two side of an interco, there can and almost always will be a difference if the two subs don't use the same base currency

Now when you bring in elimination/consolidation, then you're bringing in the concept of Consolidate Exchange Rates which may be slightly to significantly different from transaction rates

Hi <@UDJDXB0EB> - I don't understand what you mean.

If I have an AUD sub and a EUR sub, and they invoice each other in USD, 1000 USD will be equal to 1424.55 AUD at the end of the month (using 30th June rate - this is irrespective of the original fx rate used on the transaction), and 1000 USD on the other side will equal 878.01 EUR. Dividing these two sums will give you the AUD:EUR rate (with a small amount of rounding variance, depending on when the rates were published by Xignite). What I'm saying is that in the EUR subsidiary, the GL is reporting a value of 850 EUR.

However, when I'm looking at the elimination journals, the system has eliminated the equivalent of 1424.55 AUD and 878.01 EUR in the common parent of these subsidiaries.

Consolidation is using current rates and I have checked they match up to the 30th June rates

<@UCW6BN2DA> Hmm, is it just a matter of the accounts in use? When the Invoice is posted in EUR, NS will translate the invoice value to EUR using the transaction exchange rate. Then, at month's end when revaluation occurs, NS will post *on the reval transaction* the difference. So, hypothetically, could it be that 850 EUR is the original transaction value and then there was 28.01 is Unrealized Gain/Loss posting separately, and the reporting you are using isn't showing that properly?

I was thinking along the same lines but if so there aren't really any red flags. My criteria on the search are simply Account = x and Posting = true. I'm matching the TB in home currency.
I was thinking was it could be in realized gain/loss if it's somehow been allocated to a transaction in another currency - I will investigate.
I have the same issue in a different account with no sub-ledger though...I suspect I'm doing something wrong, just not sure what!