[GNC] Unrealized gain/loss on Forex

David T. sunfish62 at yahoo.com
Fri Aug 16 02:51:43 EDT 2019


Jayakumar,

I am no expert on this subject. This has been discussed on the lists before, however, so I hope that one of the previous participants can explain the situation and its solution better than I will. 

David

 
 
  On Fri, Aug 16, 2019 at 11:14, Jayakumar Chakravarthy<jayakumar.chakravarthy at fulcrum-ace.com> wrote:   David,
Normally I can account the unrealized loss by debiting 'Unrealized Gain/Loss' Account and crediting the Customer Account in my local currency.  But since here I have kept the Customer's account in foreign currency, the Customer's account is already showing nil balance.  Now where would the credit go?​Thanks.
Jayakumar ChakravarthyFounder - Consultant+91-9840 356 506www.Fulcrum-ACE.com


On 14-08-2019 at 14:09, David T. <sunfish62 at yahoo.com> wrote:
I believe that the "Unrealized Losses" entry on the Trial Balance report is calculated. You will need to create an account for it, as well as the transaction to account for the loss.  
 
 HTH, 
 David 

 
 
  On Wed, Aug 14, 2019 at 11:40, Jayakumar Chakravarthy <jayakumar.chakravarthy at fulcrum-ace.com> wrote:  Hi,


When I make an Invoice and receive money in a foreign currency and account
them in my home currency, where does the unrealized gain/loss go?


I observe an entry in Trial Balance having 'Unrealized Losses' with this
amount.  But where is that account?  How can I view it?

Thanks.


Jayakumar Chakravarthy
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