Can you please tell me if there is a way to post a journal entry to the foreign exchange account? I have applied deposits at different exchange rates and need to correct this account to the actual. When choosing an account for the journal entry, the Foreign Exchange account is not there to choose. Thanks so much for your help.
The Manager Foreign Exchange account is a control account so can’t be posted to by Journals
To manually take up the variations, on the first line of the Final Purchase Invoice enter the amount so it equals the prepaid deposit, on the second line enter an amount equal to the variation which maybe a positive or negative amount and use an account created called “Foreign Exchange Adjustments” or similar.