When, in the preceding year, the exchange rate differences have not been calculated, the program signals, in the New Year, a difference in the opening balances.
In order to resolve this problem, there are two possibilities:
- Insert in the Exchange rate table, Exchange rate column, the official exchange rates at 31.12
- Activate, from the Account2 menu, the Create transaction for exchange rate variation command
- Open the file for the New Year and update the opening balances
- Open the file of the New Year
- Insert in the Assets or the Liabilities (Accounts table), according to the situation, a new account Unrecorded Exchange rate differences or record the amount in the 1090 Internal tranfers account (as in the following example)
- In the Opening Currency column, insert the amount corresponding to the exchange rate difference
- At 01.01, the exchange rate difference account has to be put to zero by means of a transaction (Transactions table), using the account related to the exchange rate differences (Exchange rate profit/loss) of the profit/loss statement as its counterpart.
After the transaction to arrange the exchange rate differences has been made, the account that has been used should have a balance of zero, or equal to the amount corresponding to the balance prior to the transaction.