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nooman-evan-gmai
Level 1

I use Stripe as a gateway to deposit transactions into my bank account. The exchange rate is recorded as 1CAD=1USD, when I adjusted the rate, exchange G/L got messed up

Basically, the transactions collected by Stripe were deposited as 1 USD = 1 CAD into my bank account. The home currency is CAD. When I adjusted the exchange rate (for each transaction individually), it ended up recording a difference between how much was deposited in USD and the how much it is in CAD, for example, I have 1000 USD deposit (after I adjusted the exchange rate) it is now deposited as 1300 CAD, on the journal it recorded a difference of 300 CAD as exchange gain or loss, it seemed that the system did not recognize that there should not be a difference recorded between 2 different transactions (rather transactions of the same currency). Should I reverse the exchange rate for these transactions to 1 USD = 1 CAD?
2 Comments 2
4Gal
Level 11

I use Stripe as a gateway to deposit transactions into my bank account. The exchange rate is recorded as 1CAD=1USD, when I adjusted the rate, exchange G/L got messed up

Consider to have a 3rd party connector to reconcile Stripe in multicurrency transactions into QBO.

JamesM4
QuickBooks Team

I use Stripe as a gateway to deposit transactions into my bank account. The exchange rate is recorded as 1CAD=1USD, when I adjusted the rate, exchange G/L got messed up

Hi nooman-evan-gmai. Thanks for reaching out to us here again. I'll be happy to steer you in the right direction. In order for the exchange rate to be registered correctly, I recommend utilizing a third-party app as suggested above by 4Gal. You can search for integrating apps on our app store www.apps.com. Also, are you looking to reverse the exchange rate for each transaction individually?

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