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Foreign exchange loss

MSXLMSXL Member Posts: 2

i run my business on cash basis and do not want to account for foreign exchange loss or gains. How can i turn this off or delete those transactions from my P&L

in Accounting Technical Support

Comments

  • CalliePCallieP Member Posts: 439 admin

    Hey @MSXL , thanks for reaching out! In general, we recommend ensuring you account for foreign exchange gains/losses as they happen in your real bank accounts, as this is a reality of changing currencies and helps your business to stay compliant. Thus, it's not possible to turn this off in Wave, as the software is designed to promote best practises. If you want to balance the gain/loss to zero, you can enter an adjustment entry to bring things back to even!

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