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DS57
Level 3

quickbooks company snapshot displays different account balance than register account balance

 

My Quickbooks Pro for Windows10 company snapshot displays a different account balance on an account than the register displays in that same account. 

The account in question is an AUD multi-currency account, and the company snapshot is in USD and the currency exchange is correct, yet the discrepancy is extreme. 

the currency exchange, updated today, is .76 yet the discrepancy between the company snapshot and the register indicates a currency exchange of .14.  A huge ERROR and incorrect.  Company/manage currency/currency list is CORRECT for AUD.

Not sure how to fix this gross error in balances.

 I've verified and rebuilt my data, that's not the issue.

Solved
Best answer January 28, 2021

Best Answers
Rasa-LilaM
QuickBooks Team

quickbooks company snapshot displays different account balance than register account balance

Thanks for dropping by the Community, DS57.


I appreciate all your efforts in trying to resolve the discrepancy on the company snapshot. Let’s create a home currency adjustment to resolve the issue.


The process will change the home currency value of your foreign balances. Since it affects your balance sheet accounts, I suggest consulting an accountant to ensure your records are in order.


Let me guide you through the process of how to perform the adjustment. Here’s how:

 

  1. Go to the Company menu to select Manage Currency and Home Currency Adjustment.
  2. Enter the date and choose AUD in the Currency drop-down.
  3. If necessary, update the currency's exchange rate. QuickBooks uses this rate to recalculate your home currency balances. By default, QuickBooks uses the latest exchange rate listed in the currency list.
  4. Click the Calculate Adjustment button.
  5. QuickBooks displays the balances you have for accounts in the selected currency.
  6. Press Save & Close to keep the changes.

For more information about home currency adjustment, check out our built-in articles in your company. I’ll show you the steps on how to get there.

 

  1. Tap the Help menu at the top bar and select QuickBooks Desktop Help F1.
  2. Type a keyword in the search field. For example, currency adjustment.
  3. This will display a list of related articles.
  4. Click on the topic to view the complete details.  


Additionally, this guide provides an overview of how to handle different currencies in QuickBooks Desktop: Set up and use Multicurrency.


If you still need help when working in QuickBooks, leave a comment below. I’ll be around to assist further. Have a good one.

View solution in original post

2 Comments 2
Rasa-LilaM
QuickBooks Team

quickbooks company snapshot displays different account balance than register account balance

Thanks for dropping by the Community, DS57.


I appreciate all your efforts in trying to resolve the discrepancy on the company snapshot. Let’s create a home currency adjustment to resolve the issue.


The process will change the home currency value of your foreign balances. Since it affects your balance sheet accounts, I suggest consulting an accountant to ensure your records are in order.


Let me guide you through the process of how to perform the adjustment. Here’s how:

 

  1. Go to the Company menu to select Manage Currency and Home Currency Adjustment.
  2. Enter the date and choose AUD in the Currency drop-down.
  3. If necessary, update the currency's exchange rate. QuickBooks uses this rate to recalculate your home currency balances. By default, QuickBooks uses the latest exchange rate listed in the currency list.
  4. Click the Calculate Adjustment button.
  5. QuickBooks displays the balances you have for accounts in the selected currency.
  6. Press Save & Close to keep the changes.

For more information about home currency adjustment, check out our built-in articles in your company. I’ll show you the steps on how to get there.

 

  1. Tap the Help menu at the top bar and select QuickBooks Desktop Help F1.
  2. Type a keyword in the search field. For example, currency adjustment.
  3. This will display a list of related articles.
  4. Click on the topic to view the complete details.  


Additionally, this guide provides an overview of how to handle different currencies in QuickBooks Desktop: Set up and use Multicurrency.


If you still need help when working in QuickBooks, leave a comment below. I’ll be around to assist further. Have a good one.

DS57
Level 3

quickbooks company snapshot displays different account balance than register account balance

Thanks, that solved my issue.

Not sure why the problem was there to begin with.

D

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