Total A/R Ageing Summary not equaling Total A/R in Balance Sheet
Andrew Choong
Member Posts: 1 ✭
After review of some financial reports, I found that the total figure in my A/R Ageing Summary for November does not equal the total A/R for November.
Upon closer inspection, I found that the difference between the two totals were mainly due to foreign exchange gains/losses (which are relatively small amounts, by the way). The A/R Ageing Summary takes into account these gains/losses, while the total A/R does not.
So my question is: how do I eliminate this discrepancy?
*I am using Reckon Accounts Hosted 2016
Upon closer inspection, I found that the difference between the two totals were mainly due to foreign exchange gains/losses (which are relatively small amounts, by the way). The A/R Ageing Summary takes into account these gains/losses, while the total A/R does not.
So my question is: how do I eliminate this discrepancy?
*I am using Reckon Accounts Hosted 2016
0
Comments
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Hi Andrew,
See if a home currency adjustment helps. If it doesn't check if there are any adjustment notes entered in the period you are reporting on, and make sure they are using the exchange rate as the invoice. If they are not you may need to delete and re-enter those adjustment notes and invoices linked to them, making sure they use the same exchange rate. (payments dont have to have the same exchange rate, but adjustment notes should for it work properly).
Regards,
Shane.0
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