Question
I use Stripe as a gateway to deposit transactions into my bank account. The exchange rate is recorded as 1CAD=1USD, when I adjusted the rate, exchange G/L got messed up
Basically, the transactions collected by Stripe were deposited as 1 USD = 1 CAD into my bank account. The home currency is CAD. When I adjusted the exchange rate (for each transaction individually), it ended up recording a difference between how much was deposited in USD and the how much it is in CAD, for example, I have 1000 USD deposit (after I adjusted the exchange rate) it is now deposited as 1300 CAD, on the journal it recorded a difference of 300 CAD as exchange gain or loss, it seemed that the system did not recognize that there should not be a difference recorded between 2 different transactions (rather transactions of the same currency). Should I reverse the exchange rate for these transactions to 1 USD = 1 CAD?
