Issue with Foreign Exchange Gains/Losses in Profit & Loss Report

[easybookcloud]

[Ealfardan]

Hello @easybookcloud,

Yes, fx difference looks abnormally large, but this screenshot still doesn’t rule out the possibility of entry error, or maybe this figure could in fact be accurate because this figure is more proportional to your balance sheet figures, and not exactly so to your profit and loss.

To rule these possibilities out, please share screenshots of the following:

1. A drill down of this figure and sort by Amount column.

2. View the largest figure contributing to this abnormal figure, then go to Transaction Journal. This will show us how the largest difference was calculated.

3. For each of the exchange rates appearing in step 2, Go to Settings > Currencies > Exchange Rates to trace and verify.

[easybookcloud]

(attachments)

[Ealfardan]

I see your issue is that your starting balance has no set exchange rate:

@easybookcloud

The solution is to create a new entry for starting balance of SSP/USD exchange rate from Settings > Starting Balances > Exchange Rates

See this other post for more detail

Added foreign currency support to starting balances

The latest version (25.11.2) is adding Exchange Rates screen under Starting Balances screen within Settings tab. Let me demonstrate how it all works. Let’s say your base currency is EUR: [image] And you have USD foreign currency: [image] Now, we create foreign currency bank account in USD: [image] To setup starting balance for USD bank account, go to Settings, then Starting Balances and you will see the following options: [image] Let’s setup starting balance for USD bank account to …