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''Menu: GL | Foreign Bank Adjustment...'' | ''Menu: GL | Foreign Bank Adjustment...'' | ||
* To | '''Purpose:''' | ||
* To revalue the foreign bank balance | |||
* Calculate and post double entry for the unrealize FOREX gain/loss | |||
==Introduction == | ==Introduction == | ||
We can use Foreign Bank Adjustment to <b> | We can use Foreign Bank Adjustment to <b>revalue the bank balance every end of the month</b>. | ||
<br /> | <br /> | ||
Refer this ledger: | Refer this ledger: | ||
::[[File:GL-Foreign Bank Adjustment 1.jpg | 400PX]] | ::[[File:GL-Foreign Bank Adjustment 1.jpg | 400PX]] | ||
<br /> | <br /> | ||
Local Balance is now RM | Local Balance is now RM 57,350 and you wish to revalue it using month exchange rate 4.50000 to get the local balance RM 56,250. How to do? | ||
==Foreign Bank Adjustment Entry == | ==Foreign Bank Adjustment Entry == | ||
Revision as of 02:49, 5 October 2022
Menu: GL | Foreign Bank Adjustment...
Purpose:
- To revalue the foreign bank balance
- Calculate and post double entry for the unrealize FOREX gain/loss
Introduction
We can use Foreign Bank Adjustment to revalue the bank balance every end of the month.
Refer this ledger:
Local Balance is now RM 57,350 and you wish to revalue it using month exchange rate 4.50000 to get the local balance RM 56,250. How to do?
Foreign Bank Adjustment Entry
1.Click on New
2.Enter your double entry
3.Click on Save
Ledger Report
Now, back to ledger report select the Foreign Bank and you will realized that Local Balance had been adjusted to RM 23,500.
