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What is the foreign exhange gain and loss option on the balance sheet?

Created on  | Last modified on 

Description

Cause

Resolution

  • Recalculates your foreign accounts with new exchange rate and shows you the calculated difference on this report.
  • It does not update your foreign accounts with the new exchange rate.
  • It does not update your foreign accounts balances, you would need to do a GL entry.
  • The recalculated numbers only show up on balance sheet report for your reference.