Foreign Open Balance

Software: QuickBooks accounting software

 

For those who uses Foreign Currency in transactions may having some issue when trying to print out the Open Invoices report with both “Open Balance” (Home Currency) and “Foreign Open Balance” side by side in the report.

Example:

When you had a foreign invoice dated in Jun 2011 with partial payment for this invoice at the later date. In Sep 2011, when printed the Open Invoice report with both Open Balance and Foreign Open Balance side-by-Side as of 30 Jun 2011, and changed the Open Balance/Age from “Current (Faster)” to “Report Date” in the Advance Options; both amounts in the Open Balance and Foreign Open Balance fields will turn out to be the same – Home Currency Amount.

This could be due to Open Invoice report does not allow modifying (Preset by Reckon), that’s why the report does not present out properly.

For users who like to show the foreign amount in the Foreign Open Balance field can consider pulling out the Actual Rate into the Open Invoice report, then, export the report into Excel. From Excel calculate the Foreign Open Balance amount manually (Open Balance / Actual Rate).

 

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