I'm curious how to view/record my capital gains/losses on the exchange of a foreign currency for US Dollars.
I have a Canadian Dollar asset account which receives payments in CAD from customers. Say I hold the CAD for 1 year and the exchange rate goes up substantially. Then I exchange the CAD for USD by transferring them to my USD account.
How can I view the capital gains earned from the difference of when I receive the foreign currency until I sold it?
I was hoping the "Realized Exchange Gains & Losses" report would show this, but it seems to only look at gains between the rate when an invoice is created until the payment is received.
Would I be better off manually creating a Journal Entry that records this gain? What would a Journal Entry for that look like?
Thank you!