When you received payment, were you prompted to enter an exchange rate? If the
rate entered allows the transaction to balance as-is, then you won’t have a
gain/loss. If however, you specified a real-world rate that left some portion
of funds remaining to be accounted for, that would be balanced
Jayakumar,
I am no expert on this subject. This has been discussed on the lists before,
however, so I hope that one of the previous participants can explain the
situation and its solution better than I will.
David
On Fri, Aug 16, 2019 at 11:14, Jayakumar
Chakravarthy wrote: David,
David,
Normally I can account the unrealized loss by debiting 'Unrealized Gain/Loss'
Account and crediting the Customer Account in my local currency. But since
here I have kept the Customer's account in foreign currency, the Customer's
account is already showing nil balance. Now where would
I believe that the "Unrealized Losses" entry on the Trial Balance report is
calculated. You will need to create an account for it, as well as the
transaction to account for the loss.
HTH,
David
On Wed, Aug 14, 2019 at 11:40, Jayakumar
Chakravarthy wrote: Hi,
When I make an Invoice
Hi,
When I make an Invoice and receive money in a foreign currency and account
them in my home currency, where does the unrealized gain/loss go?
I observe an entry in Trial Balance having 'Unrealized Losses' with this
amount. But where is that account? How can I view it?
Thanks.
Jayakumar
