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USD to USD transaction rate makes account negative in Base currency

someone_likes_accsomeone_likes_acc Member Posts: 10


Hello!

Thanks a lot for creating Wave! I love the product. I am trying to play around with multi-currency and learn accounting. When I transfer from USD account to USD account, I have no way of adjusting balance

in Accounting Technical Support

Comments

  • someone_likes_accsomeone_likes_acc Member Posts: 10

    My home currency is LKR. Balance is negative in home currency and 0 in USD balance. I have no way to move that +/- balance to foreign currency gain or loss. How can I fix this?

  • JulianPJulianP Member Posts: 1,002 ✭✭✭

    Hello @someone_likes_acc !

    Thanks for sharing your kind words and I'm happy to hear that you are enjoying Wave!

    This is a bit of an issue for foreign currency accounts in Wave, since all reporting is done in the base currency of your business. It sounds like you will need to create a manual revaluation entry.

    Here is a link to another discussion where I broke down the process of creating a manual revaluation entry. Feel free to check it out!

  • someone_likes_accsomeone_likes_acc Member Posts: 10

    Thanks a lot for replying. I am sad that WaveApp is closing support for non-us companies. Still I find this bit problematic especially for reporting purposes. (Regulatory/Audit) I will try to make it work.

  • someone_likes_accsomeone_likes_acc Member Posts: 10

    Balance looks like this.

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