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Realized FX gains and losses from currency conversions?

APOAPO Member Posts: 3

Hi Community

I'm a freelance consultant based in Canada and I receive payments in USD. When I sell USD for CAD I expect Wave to compute realized foreign exchange gains and losses, however the system doesn't do that.

I think many freelance consultants are doing FX transactions, so I wonder how do you get around that missing feature? (August 2021)

in Accounting Feature Ideas

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    Gabriel_KrozkinGabriel_Krozkin Member Posts: 22 ✭✭
    Hi @APO

    I am a waveproadvisor Accountant in Camada as well.

    There are “workarounds” to do this in wave. Not very easy nor convenient, but is possible.

    This article explain a little, that can be adapted to your requirement.

    https://support.waveapps.com/hc/en-us/articles/360052935171-Foreign-currency-account-balances-in-Wave

    Let me know if you need any help,

    Thanks,

    Gabriel.
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