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Established Member

Foreign bank account not reflected in home currency when pulling reports

Hi there,

 

I have switched on the multi-currency feature.

When I pull reports, that bank account is not reflected in home base.

 

Do you need to add exchange rates in the currency list for each day of the year for this to be accurately reflected?

 

1 Comment
Established Community Backer ***

Re: Foreign bank account not reflected in home currency when pulling reports

NO - if you have reasonable exchange rates entered on all the transactions (dont need exact) - then the residue is a foreign exchange gain/loss.  Make a 'home currency adjustment' to the foreign account to push it back to where it should be - the offset goes to 'exchange gain/loss (in other income/expense)