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E
E21J
March 6, 2019
Question

I have a small historic exchange difference on my USD Purchase Control Ledger (my accounts are in GBP). How can I clear this please?

  • March 6, 2019
  • 1 reply
  • 0 views

I am not able to clear this at the correct date because the original transactions occurred in the prior period of accounts which have been audited and signed.

I have tried clearing this with a journal against the Purchase Ledger Control Account (USD) and an expense account on the P&L but this requires me to put a supplier which then results in the supplier having a balance.  I would be grateful for suggestions as to how I can fix this.

1 reply

P
payment after leaving
March 6, 2019

Hi E21J

 

We would be grateful if you can inform us which of our products you are using, desktop or online.

 

When you state, ' I am not able to clear this at the correct date because the original transactions occurred in the prior period of accounts which have been audited and signed'. what are you referring to? Can you provide us with a screen shot?

 

 

E
E21JAuthor
March 7, 2019

Desktop 2015.

 

I mean that I can not go back to the date where the exchange difference has arisen because that period of accounts has been audited and signed.

T
TaliaI
March 7, 2019

Hello E21J,

 

Unfortunately we are not accountant trained and so cannot advise what to enter in this journal entry to avoid it posting a supplier balance (we would not want to give you any incorrect advice) - this would have to be something you would check with an accountant.

 

Thanks,

 

Talia

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