When you use different currencies, you might need to make adjustments to the ledger accounts to recognize differences in exchange rates.

Set up accounts for exchange adjustments

Before you can create a ledger exchange adjustment, you must set up the accounts to allow exchange adjustments to be posted to the accounts.

  1. Click > .

  2. Select an account that includes foreign currency transactions and that is one of the following account types:

    • Profit and loss

    • Revenue

    • Cost

    • Balance

    • Asset

    • Liability

  3. On the tab for the selected account, select the check box.

    Note Note

    You must select each ledger account that has transactions or balances in foreign currencies if a specific exchange adjustment is to include all possible adjustments.

  4. Click > > to open the form.

  5. Click the tab and select the ledger accounts that the exchange adjustment transactions are posted to—usually profit and loss accounts.

Create a ledger exchange adjustment

Use the form to create a ledger exchange adjustment to update balances that are in the company's currency to current exchange rates.

  1. Click > > .

  2. Specify the beginning and ending ledger accounts, dates, and currency codes to include in the adjustment.

  3. Select the check box to adjust balances in profit and loss accounts.

Select the check box to adjust the balances of balance sheet accounts.

  1. Click to adjust the ledger exchange.

See Also