[GNC] Income Statement versus Transaction Report
Fred Tydeman
tydeman.fred at gmail.com
Wed Jul 19 22:26:12 EDT 2023
In looking at Income Statement versus Transaction Report for just
Income accounts for all of last year, the numbers do not match.
My main currency is USD. However, for this file, all the income
was in COP. Now, during the year the number of COP / USD varied
a lot: from around 3748 to 4846; year end was 4846.
For Report Options, I am picking:
Commodities: Price Source: Last up through report date.
It appears that the Income Statement sums up all the COP
for the year and uses the year end COP/USD value.
While the Transaction Report uses the month end COP/USD value
for the transactions in that month.
I believe that the US tax people want foreign transaction values
converted to USD at the time of the transaction (not use the
year end COP/USD value). So, I think the Transaction Report
has the correct values.
Is there a way to have the Income Statement use values like the
Transaction Report?
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