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Vanessa09
Level 1

Take on Debtors balance is not showing in the Trial Balance?

I need to take on Customer (Debtor) balances in USD and in Zambian Kwacha. My home currency is Kwacha. 
 
I have followed the steps to create the Customer and then entered the opening balance using the' as of ' date field and selected the drop down box ' paid in USD'. However when we select 'Paid in USD' the balance and as of date disappear and do not show in the trial balance after we have saved the transaction. Although it does create the customer account there are no transactions in the account.
 
 As this is a take on balance the debit should go to Accounts Receivable and the credit to Opening Balance Equity.  
 
I have set up all the Supplier accounts with opening balances in USD and Kwacha, and the Accounts Payable balance agrees to our prior year financial statements. The problem is with Accounts Receivables and for only 3 customers. Please help!?
1 Comment 1
Adrian_A
Moderator

Take on Debtors balance is not showing in the Trial Balance?

I'm here to share some information about Multi-Currency, Vanessa09.

 

Since your home currency is Kwacha, any foreign currency will not reflect on the Trial Balance report. The opening balance and the as of date will appear once your customer pays through your currency.

 

However, we can add their opening balance through an invoice. This way, it will be posted using their USD currency.

Screenshot 01.JPG

 

As for the transactions, let's ensure that we've entered transaction on a certain customer so it be recorded on their transaction list.

 

I've also added this reference for more information about Multi-Currency: Multi-currency FAQ.

 

I'm just a post-away if there's anything that I can help. Keep safe!