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