Journals to adjust foreign currency with home currency has left a balance for each supplier in AP Ag
Comments
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Hi John,
Following that guide has now left me with balances on the supplier/customer reports. How do we remove these from our Ageing Summary's?
Belinda0 -
Hi Belinda
Are they just small, rounding amounts?
If so, you can either:
- GJ them out or
- Create invoices/adjustments & bills/bill credits as applicable & allocate them in “Receive Payments” / “Pay Bills” (This one is my preference)
Shaz Hughes Dip(Fin) ACQ NSW, MICB
Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)
Accounted 4 Bookkeeping Services
Ballajura, WA
0422 886 003
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
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Hi Shaz,
The largest difference is 1700.
My Balance Sheet reconciles to all 'actual' bills/invoices, however we now show balances against the 'currency adjustment' supplier & customer.
Whether I GJ them out or create an invoice, it will then give me the same initial problem of having a discrepancy between the Balance Sheet and the Ageing Summary's.
Thanks
Belinda0 -
Hi Belinda
Hmmm …. this could be due to the there being no other sale/purchase transactions under these “Names” to balance them out behind the scenes.
Were these transactions posted to Accounts Payable / Accounts Receivable ????
If so, I’d still recommend creating a bill/invoice & allocating these balances to see if that resolves it. This shouldn’t impact your Balance Sheet as the balances should still clear to $ 0.00 ?
I’m wondering if your Name transactions were actually posted to a different income/expense account? If so, that would be why they’re not reflecting as AP / AR on the Balance Sheet.
Shaz Hughes Dip(Fin) ACQ NSW, MICB
Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)
Accounted 4 Bookkeeping Services
Ballajura, WA
0422 886 003
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
0
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