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Active Member

US/CA Intercompany accounts. I/C is bal in CA funds. Ex in US funds, exchange rate put to Ex G&L to balance. Do I spot price and put to FX Loss for YE as a JE?

Our Canadian company pays for some of our Canadian invoices, wire transfers both of which I enter as an expense in US Funds.  

Any help would be greatly appreciated.
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Active Member

exchange rate put to Ex G&L to balance

Sorry, there was a typo exchange rate put to "Exchange Gain & Loss".