Differences in the opening balances

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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:

If the preceding accounting year has not yet been audited, calculate the exchange rate differences in the preceding year:
If the preceding year has already been closed and revised, you must proceed with an adjustment of the opening balances of the new year:
  • 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.










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