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K
kobutacus
November 22, 2022
Question

How to adjust difference AR aging summary and customer balance summary (in home currency)

  • November 22, 2022
  • 4 replies
  • 22 views

How to adjust difference AR aging summary and customer balance summary (in home currency)How to adjust difference AR aging summary and customer balance summary (in home currency).

there are two reports does not match. and customer balance summary (in transaction currency) is correct, but customer balance summary (in home currency) shown many customer who I was not expect. 

How can I fix ? thanks .

4 replies

L
LeizylMQuickBooks Team
QuickBooks Team
November 22, 2022

I'm here to get the help you need,kobutacus.

 

Let's make sure to check if you select the correct date range of the report. Also, there may be invoices in the AR that are not properly tracked. If everything is correct, let's try to revalue the currency. 

 

Here's how:

 

  1. Go to the Company menu to select Manage Currency and Home Currency Adjustment.
  2. Enter the date and choose 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.
     

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

 

Let me know how this goes and leave a reply below if you need further assistance managing currency. I'm always here to help. Have a good one.

K
kobutacusAuthor
November 24, 2022

Thanks reply. If there are invoices in the AR that are not properly tracked. I want to write off it as exchange gain/loss. How to input? it is so many years before.

JessT
JessTModerator
Moderator
November 24, 2022

Hi kobutacus,

 

I would recommend consulting an accounting professional since you're trying to correct transactions that were created a long time ago. However, this is how we can write off collectibles: Write off bad debt in QuickBooks Desktop.

 

If you have any other concerns, you can always go back to this thread. Take care and have a good one!

A
Alberto Ninja
February 14, 2023

I found this out on Monday.. it has to do with the "Ageing method" in use - both are not on same ageing; one is on "current while the other is on "report date".

 

 

 

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