Payment reconciliation journal in foreign currency

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Posted on by Susanne80

I use a payment reconciliation journal in foreign currency. In the postings of this journal, all amounts in local currency are posted as 0.00, the foreign currency amounts are correct.

Example:

Payment of FCY 100 at rate 1.1 should be LCY 90.90. However, it is 0.00

Balance bank account before posting FCY 1,000 = LCY 909.09

Bank account balance after posting FCY 900 / LCY909.01 (should be LCY 818.18)

Amounts in both FCY and LCY are correct when posting invoices, so exchange rates are entered correctly (I presume), it only happens when posting in payment reconciliation journal.

Can anybody tell me what I’m missing?

Categories:

Financial Management