Clear a $0.01 foreign currency balance.

Hi quarfie,

Ensuring that your foreign transactions are accurate is vital in keeping your books up to date.  QuickBooks Online has the features to help you reach your goals.  I'd be glad to help!

Based on the detailed description you've provided, it seems this is in relation to penny rounding due to tax calculations.  This can happen due to the way sales tax is calculated line by line instead of on the subtotal.  For more information on penny rounding differences click here.

With regards to running a report to see the home currency balance of a foreign account, I'd recommend the Balance Sheet Detail report.  You can customize it to show account balances with different currencies.  I'll show you how!

1. From the left menu select Reports

2. Search for Balance Sheet Detail

3. Enter the Report Period from the drop-down or select a Custom date range if you prefer

4. In the top right click on Customize

5. Go to the Rows/Columns section and hit Change Columns

6. Checkbox Currency and Foreign Amount

7. Now Run Report

You can now see accounts with different currencies.  For future reference, here's an article to assist with customizing reports.

If you have any other questions, please reach back out.  We're happy to assist!