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My Trial balance show zero in my accounting currency but not zero in my reporting currency

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Posted on by Dexin

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Guys,

I encounter a issue below.

My system is setup with dual currencies. Accounting currency in MYR and Reporting currency in USD

My company is using a daily rate. The exchange rate is manually change everyday.

I encounter when i generate my Trial balance, 1 of my ledger account show zero in my accounting currency but still showing some amount in my reporting currency.

I was expecting of account show zero my reporting currency also will show zero.

Anyone know why? Any solution for this?

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BillurSamdancioglu 19,703 Most Valuable Professional on at

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Hi,

Have you run the revaluation?

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Morgan Bazin 95 on at

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The issue you're encountering is that the system will calculate the balance of the reporting currency by summarizing the values of the transactions in the reporting currency on the day of their posting. While in the accounting currency may sum to zero, the value of the reporting currency amounts will not sum to zero as the exchange rate changes daily.

Typically, as part of the period end process, an organization will want to run the currency revaluation processes in the AP, AR and GL modules to adjust the reporting currency balances to the exchange rate at a point in time (the period end). This should eliminate these variances.

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