Hi, I have some experience of accounts work for various clients, but I am new to Quickfile. I have decided to test out Quickfile with a client by running his end of year accounts. He deals in both GBP and Euro currencies. As I am running through his accounts, and new to Quickfile, I decided to eliminate the laborious and somewhat fiddly currency conversions and convert the Euro currency to GBP at source.
Naturally, I have a shortfall on the Euro, income side and need to make a journal to compensate? Or do I? The accounts are to be lodged with HMRC as he is primarily a UK operation. What journal entry(s) would I need to make, because my clients income is looking a little short.