Home currency adjustment

Software: QuickBooks Premier 2011 Canadian edition

One of the features I liked in QuickBooks Premier 2011 Canadian edition is the Home Currency Adjustment.

Before creating the home currency adjustment, you can preview the changes in your foreign account by printing out a Multi-currency unrealised report. From Reports menu, select Company & Financial, and follow by Unrealised Gains & Losses.

Screen shot 2011-06-15 at PM 04.16.26

To adjust your home currency, go to Company menu, Manage Currency, Home Currency Adjustment. 

Screen shot 2011-06-15 at PM 04.18.58

To reverse your home currency adjustment journal, open up the systems generated home currency adjustment journal, click on the Reverse button to create a reverse home currency adjustment on the first day of the following month. 

Easy, isn't it?

 

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