Realized Gain/Loss on Currency when moving funds from CAD to USD

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When using multi currency in Dynamics GP 2013, how do we account for Realized gains or losses when we transfer the funds from our CAD account to our USD account?

Thank you,

Sarah

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twelvestrikes 3,657 on at

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Hi Sarah

When you transfer from your CAD to USD there isn't an exchange Gain/Loss.

I would use an exchange rate type called SPOT to record the transaction at the actual rate used on the conversion.

But say at month end you do a revaluation on your USD bank account you would have an unrealized gain/loss. For example your funds transfer mid month was at 1.25 and you transferred $100 CAD to the USD account. That gives you $80 USD ($100 CAD) in your account.

At month end you revalue and the exchange rate is now 1.30. You still have $80 USD in the account but the CAD amount is now worth $104.

This is unrealized because next month the amount can fluctuate again and either go up or down.

If this is not what you are looking for, could you please elaborate and I will explain further.

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