Thanks for reaching out to us, @mw-design-thinki. I'm here to explain why you're experiencing issues with your reports.
Regarding accounting, cash basis, and accrual basis are two different methods used to record and report financial transactions. The cash basis recognizes revenue and expenses when cash is received or paid. In contrast, the accrual basis recognizes revenue and expenses when earned or incurred, regardless of when cash is exchanged.
Exchange rates can impact the conversion of foreign currency transactions when preparing financial reports. Differences in exchange rates between cash and accrual basis reports can arise due to various factors, such as the timing of cash receipts or payments and the rate used for currency conversion.
For more information about the Balance Sheet report, check out this article: What is a Balance Sheet report?
Be sure to get back to me if you have additional questions. It would be my pleasure to help. Have a good one!
