Multi currency issue

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Posted on by Community Member Microsoft Employee

Basically this is the result of a foreign currency invoice being set-up and paid at 2 different FX rates. This difference in FX rates resulted in a FX gain/loss that got posted to a different account. Now we have this $0 balance to get rid of. Any idea will be highly appreciated.

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Tristan Clores 2,812 on at

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RE: Multi currency issue

Hi Habeeb,

If the Currency Revaluation is not picking up the correct amounts based off the exchange rate differences, then there is something wrong in the data. This is one of the main reason I recommended re-entering the transaction.

The data will need to be reviewed in-depth.

I recommend contacting your vendor to have this checked.

Let me know if you have further questions regarding this.
Community Member Microsoft Employee on at

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RE: Multi currency issue

Hi Tristan,

Thanks for your kind response but the user is not agreed to void these invoice and payments as the checks already been delivered to vendors. The currency revaluation process should fix this but some reason it generating a recored of 0 doller in originating currency and 8.25 dollars in fuctional currency.

Thanks,

Habeeb
Tristan Clores 2,812 on at

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RE: Multi currency issue

Hi Khan,

You need to get rid of a $0 balance? Or you need to get rid of the amount that got posted to the incorrect account for unrealized gain/loss?

If you are up to it, you can void the transactions (invoice and payments). Once done, change the Posting Accounts that needs to be used for the Unrealized Gain/Loss in the Posting Accounts Setup window (for Financial).

You can then re-enter the transactions with the correct details.

The fastest solution is just do a manual journal entry and post to the correct gain/loss account involved.

Let me know if you have further questions.