Manage Suppliers and Expenses for
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In QB when we book bank transactions in FCY, the system picks up the rate of the day. When I extract the Balance sheet at the end of the year has a balance in LCY that is absolutely not correct as we should use the rate of the year end for cash. My auditors refuse to validate my financial statements because of that. The issue is I can't go back and modify the thousands line I have over the years in order to change the currency rate transaction wise. How to apply the current rate for the cash account? and keep the historic rate for the rest of the balance sheet? I have tried to pass an entry bank (LCY) to Exchange rate lass/gain but that is changing my FCY balance account. Is anyone having the same issue?
I have an advertising agency, which means I spend money on advertising/promotional activities for my clients (not talking about advertising for my company), in other words, I spend money to buy digital spots/boost social media posts, etc. for my clients. where should i record such expenses? because I can't find a type other than (commissions & fees) which is not really the right type. THank you
how to book a co expense which is paid from a card and the payment of card is done form personal account
