Create Journal Entries for a Hedged Profit or Loss Amount

This activity presumes that a valuation or settlement for the hedge position has been locked.

Security Note: You need the Allow the user to maintain hedge actions security right in the Accounting user group security rights group for this activity.

Activity Steps

1. Open the Hedging Explorer.
2. Select the Hedge Actions tab.
3. Find the required hedge position. See Find Hedge Positions.
4. Select (that is, highlight) the hedge position in the Hedge Actions table.
5. Select the Journals tab.
6. Complete the following fields.
   • Date Creation Method—Select from:
     • Actual Date
     • Fixed Date—Enter a Fixed Date.
     • Settlement Date
   • Journal Reversal Method—Select from Full Reversal and Incremental.
   • Display Method—Set to All Entries. Displays the journal entries from all items in a journal group, grouped by district. Selecting individual rows in the journal group has no effect on the displayed journal entries, which are for the whole journal group.
7. Right-click in the Journals table and select Create Journal from the menu.

   MineMarket creates a journal group and journal entries for accounts with configuration matching the hedge position.

   Note: If the journal entries cannot be created, the Errors sub-tab displays details of the problem. After correcting the chart of accounts configuration, re-create the journals. See Charts of Accounts.

   Note: If a currency conversion is required for an FX hedge position, MineMarket uses the exchange rate source specified as the Default Series of the market commodity. See Specify a Market Commodity. If a currency conversion is required for a physical commodity hedge position, MineMarket uses the default system exchange rate source.

8. Click Save.