Question

Is there a report that shows foreign balance and home currency balance of all balance sheet accounts ?

Forum|Forum|3 years ago
February 21, 2023
5 replies
0 views

Have a client with multiple banks in foreign currency and I would like to generate a report at any time showing bank name Foreign balance and Euro balnce

QuickBooks Online - International

Adrian_A

Hi Fiona,

Welcome to the QuickBooks Community. I got information about the currencies in the Balance Sheet report.

We can only have the amounts in your home currency in a Balance Sheet report. There is another report called Balance Sheet Detail that can show you amounts based on an account’s currency. I'll share the steps to achieve this.

Go to Reports.
Search for Balance Sheet Detail and click the result.
Click the small Gear icon on the report page and then Show more.
Select the Currency and Foreign amount checkboxes.
Click Run Report.

You can also make customisations to filter the data you only need.

Feel free to visit us back through this thread if you need more help with reports. Take care and have a good one!

F

fiona-occaccountAuthor

Hi Adrian

Thanks for your quick reply.

I tried what you suggested but the "foreign amount" field only translates the transactions on the specific date of report and not the closing balance.

I don't know why there is not a field for "foreign Balance" which was in desk top version.

Below is a sample of what I need. On desk top version I was able to pull the columns required but I could only get current balances and was unable to go back and balances at a specified date.

				8:51 AM
Bank Balances Report	at specified date			22/02/23
All Transactions
	Account name	Currency	Foreign Balance	Balance (EUR)
	USD bank account	USD	108,108.60	100,000.00
	STG bank account	GBP	880.75	1,000.00
	Eur bank account	EUR	100.00	100.00

	Total			101,100.00

Any further suggestions would be greatly appreciated.

Fiona

D

DebSheenD

Running reports that show foreign and home currency balances in QuickBooks Online (QBO) is great functionality, @fiona-occaccount.

As of now, this feature is unavailable in QBO. I can see how this functionality would be beneficial to your business. I encourage sending feedback directly to our Product Development team. This helps us improve the features of the program. I'll show you how:

Go to the Gear menu and then select Feedback.
Type in your feature request in the description box.
Once done, click on Next.

I'm including these articles below to learn more about how multi-currency works in the program:

If you have any further questions or require QuickBooks assistance, please leave your comment below. We'll be there for you at all times. Have a fantastic day!

S

Sebastien4

I agree this is a core feature that should be available out of the box.

As a work around, you can view the current balances in foreign currencies going through the Account List report

A

Arden7

Hi, My home currency id £ uk. We buy from several countries. The purchase ledger has option to run in currencies; however I've looked everywhere and cannot see an option to see foreign currency balances! Am I mistaken or QBO have messed up in a big way here?!

Any assistance would be helpful. thank you.

A

Arden7

Each supplier account should show a running balance alongside the invoice/credits column. Is there any way to get this?

A

Arden7

Hi Fiona, I have had so many problems with QBO foreign currencies especially in the purchase ledger...with no cumulatve balances in foreign amounts, having to export to excel to get my balances....its been an absolute nightmare...and for this and issues such as yours, I for one would not enrol anymore clients to QBO. There keep on giving standard replies and not changing anything..these foreign currencies issues are so basic and yet QBO are giving the users a hard time.

J

jean-howardwilso

If only that were the only issue I am having.....Stock is a complete nightmare as well. Anything with a foreign currency leaves 1ps even if everything is sold. You end up with a list of zero qtys but a value of 0.01 !!!! Changing to FIFO was a ridiculous mistake by Intuit. There are also glitches when is doesn't put the COS into the P&L. You have to delete the line on the invoice, re-enter it and miraculously it appears. Anyone who doesn't reconcile the COGS account to sales is going to end up with balance sheet being overvalued and P&L overstated. My advise, if you have stock, DONT use QBO, find an alternative otherwise your accounts will not be correct, or it will take hours to find the differences. Luckily for me, I am old school, grew up having to do accounts manually without the use of computers. Anyone without that background does not have a hope in hell of looking for differences.

A

Arden7

i know QBO is a complete nightmare!

you are having deep issues with stock, others are having issues with fx balance sheet. Can see this, can see that....What the F*** are QBO doing!

i am having fundamental issues with the purchase ledger, and even the presentation is rubbish. In an individual purchase/supplier account at top right shows OPEN Balance and OVERDUE balance....guess what...it does not show the straight actual balance!...So if you have not tied everything invoices to payments....you will be seeing the wrong balances...The way to see the correct balance is to go back to your supplier list!....Mama mia! have to do so many more searches to see the correct info....a disgraceful software...

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