Forex Gain / Loss

I'm here to share some insights about foreign exchange gains or loss, @tomegranate.

The amounts that you're seeing are unrealized forex gains or loss. It means that it has an increase/decrease in the value of assets, yet no cash has taken place. Some accountants call it as "Paper loss/gain."

These gains or losses are only realized after the transactions have been completed or when money has been collected or paid.

That is why it shows the effect of a home currency adjustment on Accounts Payable or Accounts Receivable as an unrealized gain or loss, and the effect on account types such as bank accounts as a realized foreign exchange gain or loss. Unrealized gains or losses are also not reflected in the general ledger or the trial balance.

I'm also adding this article for more FAQs about unrealized gains and losses: Frequently Asked Questions about Home Currency Adjustments.

Please let me know if you have other questions or concerns. We're always here to help. Have a great day, @tomegranate. 

@tomegranate 

As other options, if you are dealing with multi currency transactions, explore these solutions and integrate it with your QBO to get a better exchange rate and a lower fee.

https:// veem.grsm.io/veems

https:// prf.hn/l/7gg1NWy

Hope it helps.

how can i pull a TB from QBO that include unrealised forex gain and loss?

I've got your back, @Buck Tsai.

In QuickBooks Online (QBO), there are specific reports that include unrealized forex gains or losses. However, the Trial Balance report isn't listed. You can consider pulling up these reports to display such information:

• Profit and Loss report
• Balance sheet
• Customer Balance Detail report
• Vendor Balance Detail report
• Statement of Cash Flows

To learn more about forex gains or losses, feel free to check out this article: Frequently Asked Questions about Home Currency Adjustments.

As always, feel free to visit our QuickBooks Community help website if you need tips and related articles in the future.

Our doors are always open to help you again if you have any other concerns or follow-up questions. Have a pleasant day ahead.

How can I correctly account for gain/ losses arising from trading of foreign currencies?