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  • Another Petty Cash Foreign Exchange Question

    We have a secondary USD Petty Cash, account that should be at $0.00, which it is showing that in CAD side, but the foreign balance is showing -1952.78. How do I clear out the foreign balance but keep Canadian at $0.00?

  • Accounts payable foreign currency

    I am starting a new company. I am trying to enter the Accounts Payable balance from my previous. I use CDN as my home currency and USD as my foreign. I'm unable to enter both balances under Accounts Payable. I have set up the Foreign Currency account…

  • How to correctly input purchase invoices in foreign currency?

    I operate in CAD but purchase some inventory from suppliers that invoice in USD. Previously invoices from USD suppliers were being input as CAD with the exchange being calculated manually. I have setup duplicate suppliers with a US identifier and set…

  • RE: I am still confused about foreign currency gain or loss

    Hi Mohammad K. You can follow the great suggestion from Richard in your perivous thread and then extent it a little bit. Richard S. Ridings said: You have left me assuming you are only dealing with a CAD bank account, not one in a foreign currency.…

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