In the past, we have recorded out-of-pocket expenses in three currencies -- Lao Kip, Thai Baht, and USD -- by setting up three liability accounts (as "credit cards") and periodically zeroing the Kip and Baht accounts by "paying" them down with the USD (our base currency) account. Then we create a bill for the USD account & pay it, zeroing everything.
I last did this Dec 31 2018 (we stopped spending out-of-pocket starting Jan 1). At that time -- and now -- my Kip and Baht accounts show a zero balance.
On the Balance Sheet, however, Kip shows up as a liability of $498.35 (USD), and Baht shows up as a liability of $23 (USD).
I've tried a variety of approaches to clear these liabilities: adjusting equity (which then adds an equity entry I don't want to the balance sheet), writing the amounts down as 'exchange gain or losses', which results in a negative balance in both the Kip and Baht accounts (and, because I want to make them inactive, QB needs then to add a reversing transaction that only more fully screws things up) . . .
My last attempt to correct the Kip thing was to: debit Exchange Gain/Loss 498.35/crediting Kip, then move $498.35 from A/P to the USD liability account -- and then from USD liability to Kip liability. This zeros Kip on the balance sheet, but it leaves a balance in the Kip account, preventing me from making it inactive without another
I'm out of ideas. Anyone?
