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Help Needed to adjust wrong forigen currency exchange

umairbinhabibumairbinhabib Member Posts: 5

Hello Fellows,
My base currency is PKR, however, I have a bank account in AED. The account seems to be perfect until 29oct 2018. After that two of the transactions are not showing the right currency exchange. The fluctuation is so large it had made my PKR balance negative! So Its showingAED33.92 = -(PKR26,215.60).
How to fix this sort of problem, any expert opinion to pass on the adjusting entry to balance the PKR amount?

in Accounting Technical Support

Comments

  • Kristian_GKristian_G Member Posts: 56 admin

    Hi @umairbinhabib!

    If the issue you're describing seems to only be effecting ~2 of the transaction in your account, what I'd recommend doing is simply making a one-time adjustment entry so that you can balance/reconcile the account, and move forward from there.

    To be completely honest with you, I'm not super familiar with these currencies and it would be hard for me to assist you beyond making an adjustment entry without also being able to see what the bank balances are for this account during this time, as well as your Wave account.

    In any case, you should be able to create an adjustment entry so that the account is reconciled and move forward from there!

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