Check foreign balance of Accounts Receivable on date

I found I can see the USD and CAD balances for any date under Revalue Currency.

My Receivable-USD balance is $868.39US and $1130.08CA

But in balance sheet, it shows as over $40,000 unless I select the "Show unrealized gain or loss".

But obviously the majority of this should be REALIZED, not unrealized (impossible to have $40K unrealized loss on a $1000 balance with an exchange rate that hasn't changed much over the years!).

How do I convert from an unrealized to a realized gain/loss?

Hi quarfie,

Welcome to the Community. Having the correct amount on your balance sheet report is essential to making sure your books are balanced. QuickBooks Online is a great program that offers the ability to work with multiple currencies and keep track of changes in exchange rate and foreign balances. I'd be glad to point you in the right direction on how to correct the unrealized gain\loss and realized gain\loss.

In QuickBooks Online, you can revalue the currency to adjust the unrealized gain\loss and realized gain/loss for the balance sheet report. I'll explain how.

1. Click on the Gear icon at the top right.
2. Under Lists, select Currencies.
3. Under the Actions column, select the small arrow ▼ icon.
4. Select Revalue Currency.
5. Select a date (today or a day in the past) to run a currency revaluation.
6. Select whether you'd like the revaluation to be based on the market exchange rate or a rate you specify.
7. Select the account(s) you want to apply the revaluation to.
8. Select Revalue.

Doing this will adjust the the unrealized gain\loss and realized gain/loss for the balance sheet report.

Also, I recommend that you clear your browser cache and cookies as they can prevent the system from working effectively. You can refer to the following steps to complete the browser troubleshootings.

• Clear browser cache
• Try in a private browser window
• Use another browser type
• Make sure you're using supported browsers
• Turn off any ad and popup blockers temporarily.

If the steps provided above don't work, I recommend that you contact our customer support team as they can have a closer look at how to resolve this. You can refer to the following options available to reach out to our customer support team.

Schedule a Callback or start a Chat: click (?)Help in the upper right in QuickBooks Online > type and enter "Contact support" into the QB Assistant > click Contact Us > explain your situation > click Let's Talk > choose Get a callback or Start a Chat.
Social Media: Facebook, Twitter, and Instagram.
Support hours are from Monday to Friday between 9 a.m. and 8 p.m. ET

Feel Free to reach out if you have any questions, I'll be happy to help.