A team member was asking me as to why a currency revaluation didn't reverse the following month like they expected. The foreign currency balance is 0 GBP so my assumption is that it didn't reverse since the balance is now zero and it's just applying the gain/loss. Is that correct? I wasn't sure if there was something I was missing.

If the transaction was settled in the same period, it would flip to realized gain/loss in theory (albeit with 0 bal I’m not sure if it would post if there’s nothing to settle?)

I will look into that. I also realized the transaction was a base current revaluation but our finance team is still trying to understand why it happened. They ran the process on 2/12 and then again on 2/14 and this popped up but I don't see anything transactions or anything occurring within that 2 days.

Revaluation is meant to capture the change in OPEN currency transactions from the transaction date (date on the open payable or receivable as example), to the period end date (last day of the month). So to test it out, make sure you have true open vendor bills or customer invoices on a date earlier than the accounting period end date you are testing, then run revaluation as of the period end - say 2/28 or 3/31 as potentially closed accounting periods since the 2/12 and 2/14 dates you mention above.