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LOCAL CURRENCY IS CDN US BANK ACCOUNT G/L NOT BALANCING

Posted on by 2
Our US bank account is not in balance with the us g/l (in cdn)
G/L ($) on Bank rec is $331.22 (should be Cdn equivialent )= g/l Balance is $607.9 (US dollars)
How can I adjust the G/L balance only  without touching the bank accounts?
Thankyou
  • Suggested answer
    Jun Wang Profile Picture
    Jun Wang 5,517 Super User on at
    LOCAL CURRENCY IS CDN US BANK ACCOUNT G/L NOT BALANCING
    you need to first find out what is causing the imbalance. There are a few things to investigate
     
    It could be incorrect currency conversion rate. Go to currency page for cdn if your local currency is usd. Or the other way. check the exchange rates.
    It could be postings made directly to the gl account without going through the bank subledger. To find out you need to go to g/l ledger entries and filter for the g/l account to find out what is causing the imbalance.
     
    I won't recommend you to adjust gl account without finding out what the issue is.
     
    if you are certain you just want to adjust the gl account, you could go to general journal and choose a balancing account which is not the bank account.
     
    Jun Wang
  • Suggested answer
    YUN ZHU Profile Picture
    YUN ZHU 63,857 Super User on at
    LOCAL CURRENCY IS CDN US BANK ACCOUNT G/L NOT BALANCING
    Hi, just select G/L Account (Account Type) in the General Journal to adjust the amount.
    For example, SAVING -> 18200
     
    Hope this can give you some hints.
    Thanks.
    ZHU

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