Hi Amol,
Foreign currency valuation is done only for open items in case of payment it will directly update the relavent gain or loss G/L.
First let us understand the functional objective of FCV.At the month end we will have certain open item which might be a customer/vendor invice or G/L,which need to be revaluated to determine the exact financial standing of the business. Once the month end process is completed then the revaluation entries (posted at the time of doing revaluation)posted by the system is reversed on the date we give as reversal date.In Accounting term we call it as unrealised profit/loss.
In case of payment nothing will be updated in FAGL_FC_VAL as we know the exact profit or loss made at the time of payment itself.
Let me know still need clarity.
Regards,
Bhuvana.