Home› Accounting› Accounting Technical Support

USD account is showing 0 USD but 126.21 GBP

OmegastickOmegastick Member Posts: 1

Looking at the transactions on my USD account (I get paid in USD and then convert it to GBP for my own use), after receiving a payment, then transferring all the money to a GBP account, is showing a balance of 0 USD (expected) and 126.21 GBP (not expected).

I thought the GBP amount was merely the USD amount converted into GBP, but apparently it isn't. What am I doing wrong here?

in Accounting Technical Support

Comments

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hi @Omegastick , you'll have to create a Journal Transaction adjustment to zero out this amount. If you zero out the balance in the business currency by creating a journal entry (the other side is gain/loss on foreign exchange), Wave will calculate a corresponding foreign currency amount which is then recorded into the balance of the account. 

    Let me know if you have any further questions on this.

Sign In or Register to comment.