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kchancock
Level 1

Currency balance wrong in balance sheet

I had a US dollar bank account which is now closed and, hence, has a zero balance in real life.

 

In the sterling balance sheet, it shows up as c.£20,000.

 

Can anyone help me correct this?  

I can do a Journal Entry to take to zero but this would leave the account with a -$26,000 balance (albeit with the sterling balance sheet looking OK)

 

Thanks

 

Charles

 

QuickBooks Pro 2010

1 REPLY 1
Ashleigh1
QuickBooks Team

Currency balance wrong in balance sheet

Hello Kchancock, 

 

Welcome to the Community page, 

 

You may have made the bank inactive when there was a balance on the account? But it should have created a journal to cancel any balance out. 

 

Though it may be a home currency adjustment where the account shows as essentially cleared with one currency, but due to the home currency adjustment it may be showing a balance on the other currency. 

 

We would suggest you ring the helpline on 0808 168 9535 and they will be able to set up a screen share with you and guide you through this and look into this more for you as well.

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