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An unrealized gain or loss will be recorded in various accounts and reflected in financial reports in QuickBooks Online, Samir. Let me explain how the revaluation process or home currency adjustment impacts your financial data.
After the adjustment, the gain or loss will appear in key financial accounts, including accounts payable, accounts receivable, and your bank accounts.
Additionally, you'll notice these changes reflected in several financial reports, including:
- Profit and Loss report
- Balance sheet
- Customer Balance Detail report
- Supplier Balance Detail report
- Statement of Cash Flows
QuickBooks will also post the adjustment on the date you entered in the Revalue date.
Additional details about using this feature are discussed in these articles:
- Enter home currency adjustments for your foreign balances
- Frequently asked questions about Home currency adjustments
I'd also like to share these two other articles for further guidance when using the Multicurrency feature:
The entire QuickBooks Team is available 24/7 to help you navigate the complexities of multicurrency accounting in the software. Whether you're having challenges or seeking deeper insights, we're here to ensure you have the support you need to manage your bookkeeping in QuickBooks Online.