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Foreign currency revaluation

Hi All,

I have posted two invoices one with usd 1000$, exchange rate Rs 44.42,Invoice value is Rs 44,420/- other with EUR 1000, exchange rate Rs 64, Invoice value is Rs 64,000/-. Now i have reduced the EUR exchange rate with a rupee and higher USD with a rupee and run revaluation. the entries it posted are

USD Loss

1) Dr. Loss a/c 1000

Cr. Adjust a/c 1000

reverse entry

2) Dr. Adjust a/c 1000

Cr. Loss a/c 1000

EUR Gain

1) Dr. Adjust a/c 1000

Cr. Gain a/c 1000

Reverse Entry

2) Dr. Gain a/c 1000

Cr. Adjust a/c 1000

Now my question is What is this reverse entry. How will i know my loss and gain when it it reversed immediately. Can any one tell me the exact process of revaluation with entries.

Thanks in advance

Sarayu.

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