Daily Sales Summary report - foreign open balance

Hi there, @ConnollyAfrica. 

Let me share insights about foreign open balance reports in the Sales Summary report.

The exchange rate will usually fluctuate now and then, that's why there's an open balance showing in the report. To fix this, we can manually enter the updated exchange rate in QuickBooks.

Here's how:
 

1. Go to the List menu, then tap Currency List.
   
2. Double-click a currency.
   
3. In the Edit Currency option, update the currency exchange rate for specific date/s.

If the open balance persists, you can create a journal entry to force your books to balance in specific ways. However, I highly recommend you only use them if you understand accounting or contact an accountant to be guided on what accounts to use.

Stay in touch if you have any other questions about managing your sales transactions. I'm happy to answer them for you, @ConnollyAfrica. Have a great day!

Thank you so much for your reply but unfortunately editing the exchange rates did not work. In fact on our QB we have all currencies set as 1 to 1 for ease of use. Is there any other reason this could be happening.