How can I reverse the Currency revaluation JV posted for debtors and creditors

Hello, manisha3. Unrealized gain/loss entries are temporary "paper" adjustments for period-end reporting. Reversing them ensures your Profit & Loss isn't distorted by market fluctuations before the debt is actually settled.
 

To undo this entry, you will need to delete the current record. You can do this by going to Gear icon> Currencies> select Revalue Currency for the relevant currency> open the Revalue History tab> delete the specific journal entry. 

You can check this article for other details: Home currency adjustments in QuickBooks.

This immediately resets your Profit & Loss and Balance Sheet to their original transaction values. It ensures gains or losses are only recorded once the payment is finalized, keeping your reporting clean and preventing any double-counting.

Please don't hesitate to leave us a response if you have other questions or concerns.