We have an issue with one of our bank accounts.
Basically the value in our dashboard for this account is zero, yet it shows a debit value in the balance sheet.
I am confident that we are looking at consistent dates for both.
Any ideas?
Is this a foreign currency bank account?
It’s possible for the foreign currency balance (in the dashboard) to show zero but for the GBP balance (on the balance sheet) to show a value. This value equates to the currency loss/gain.
If you go to the bank settings, there’s an option to “Record the currency loss/gain movement”.
All this does is journal the remaining GBP value to the currency loss/gain ledger.
Hi Glenn
It is a foreign currency bank account.
I found the workaround you highlighted. Thank you.
Is there no way of automating this process?
Kind regards
Mark
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There’s no way to automate this I’m afraid, although typically you would adjust these balances out as part of your year end procedure.
Hi
This used to work for me in the past, but now it only work if I debit my EUR account.
Right now i need to credit that account, but if I do that the entry assign the value to the actual Bank account as well?
ok it seems i have to first set the account to zero and then follow the instructions. only in that case does it not affect the bank account balance itself.