kindly help to check why the USD balance is not reflected correctly? thanks
Surely you do not expect an answer without providing any information. Why do you think the balance is unreasonable? What have you done to verify it? No one knows anything about your accounts except what you show.
Simply because the USD convert to SGD cant be less than USD.
can anyone kindly show me the calculation to show the USD closing balance $110475.24?
Possible to show me the calculation to derive the S$ Balance?
That will depend on the exchange rates you have personally entered.
What is your current balance in actual? How much is the difference? Have you deleted the currency revaluation transaction? From what i am seeing USD account is not reflecting adjusted balance which it should after creating that Revaluation transaction.
Dear Shahbb, my life saver.
i did not delete anything. on the contrary, I just hit the Revaluation button below and posted the journal.
Let me set up the Special account and see how. will come back soon.
i did follow exactly the “currency revaluation” new tab. that’s seems fine. just i cant agree with the final figure.
this Special account, i totally lost. cant get all the foreign currency transactions there.
Special accounts has nothing to do with your issue. Dont create any. Your issue is difference in balances. About which you still didnt provide enough information.
Go to Currency revaluation tab and post a screenshot here. Also if you created any journal entry for currency differences post that one too.
Also
And let me explain in simple words. The difference is because of exchange rates. So the difference is either gain or loss(Profit/Loss). Which is sometimes done anuualy/quarterly/monthly depends. So by creating the currency revaluation transaction the account with foreign balance is either credited or debited depends on situation and a contra entry is made on Profit and Loss side. So your accounts balances get corrected and you recognize your profit or loss from foreign currencies.
so is either my math got problem or Manager is wrong??
More like your issue. No issue in Manager.
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