Foreign currency revaluation

Q1: Transaction FAGL_FC_VAL (foreign currency revaluation) has tab "Open items" and tab "G/L balances". What is the difference? 

A: Open items tab is for revaluation of vendors, cutomers and GL accounts managed with open items. Revaluation of these items always go via special technical GL account and always reverses. Reversal is usually done for the next day which falls into next posting period.

G/L balances tab is for revaluation of GL accounts without open items management. For example, bank accounts. As a rule, revaluation goes to the same GL account, although nothing stops you from posting it to separate GL account. Then, usually GL balances revaluation is not reversed. Checkbox "Reverse postings" at the bottom of the "Postings" tab controls reversal of these revaluation postings.

Q2: I configured revaluation for KDF transaction, assigning GL account to be used for revaluation purposes. But I still have problems with account determination in FAGL_FC_VAL (foreign currency revaluation). What have I done wrong? 

A: When you specify GL accounts for KDF transaction, you do it for your Chart of Accounts. Versions with NewGL also require Valuation Area to be specified there. If you only specified Chart of Accounts, system will create records in configuration table with empty Valuation Area. These records will not be found by FAGL_FC_VAL. In order to put Valuation Area, please click small button with yellow arrow on the pop-up window with Chart of Accounts request.