Software: Intuit QuickBooks 2015 accounting software Due to the differences in exchange rate, the amount received in the home currency bank, which has transferred from a foreign currency bank account, could be different from the amount recorded in the QuickBooks accounting software. Assuming you transferred USD15,000 from a US dollar bank account, which is a […]

Software: Reckon QuickBooks (Reckon Accounts) For those users who upgraded their Reckon QuickBooks (especially upgraded from version 2011/12) to version 2012/13 or Reckon Account 2013 may have an error on those Home Currency Adjustment journals, which they had entered in the previous version of Reckon QuickBooks. Assuming your Base Currency is SGD and you did […]

Software: Intuit QuickBooks 2013 accounting software Currency adjustment feature is one of the differences between QuickBooks Pro and QuickBooks Premier 2013. QuickBooks Premier allows user to pass a currency adjustment journal automatically via a Home Currency Adjustment Wizard (From the Company menu select Manage Currency and follow by Home Currency Adjustment). The Home Currency Adjustment […]

Software: QuickBooks Pro accounting software To do your monthly currency adjustment, first you need to change your Exchange Rate from your Lists menu | Currency List. Next, you print out Unrealised Gain/Losses report from the Reports menu | Company & Financial | Unrealised Gains /Losses. Unrealised Gains/Losses report shows the accounts which you need to […]

Software: QuickBooks accounting software   It’s unbelievable! How can my exchange losses be S$45,000.00? For those who never revalue their currency, they might get a shock at the unrealized exchange gains or losses amount when they first time doing their revaluation of currency (Home Currency Adjustment). Usually we do the home currency adjustment monthly. First, […]

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 […]