How to do Account Reconciliation and Unreconciliation if Currency is different from Base Currency

This video will show users the How to do Account Reconciliation and Unreconciliation if Currency is different from Base Currency.

Navigate to Accounting, Account Register, View.

STEP-BY-STEP:
1. Go to Accounting menu
2. Select Account Register
3. Select an account from the list of Accounts, user can enter keyword to search for the account.
Posted journal entries and invoices for the selected period will then be shown in the table below.
4. Select unreconciled entries (in white color), they will be highlighted in green / blue color.
5. Click Reconcile button to reconcile the selected entries.
In the pop up dialog window, system will auto-generate a letter for the Lettrage.
Default account for realized gain / loss is listed as well for foreign currency account (account’s currency different from the base currency of the company).
Click OK to reconcile the entries.
Reconciled entries are highlighted in yellow color.
6. Click on the Base Currency tab on the top right.
The entries Debit and Credit values will be shown in the base currency.
Exchange gain / loss will be realized when the entries are reconciled.
7. Click on the Account’s Currency tab to view the entries in the account’s currency.
Click on the Print button and Preview button to view Account Register report with the list of entries for the selected account for the selected period.
User can print, save or export it as excel or pdf file.
8. User can filter the entries to Show Reconcile Only or Unreconciled Only.
Reconciled entries are shown highlighted in yellow color.
Unreconciled entries are shown in white color.
9. Select a reconciled entry that need to be unreconciled.
Right click to show options and choose “Select All Lettraged” to select all entries with the same lettrage.
10. Click the Unreconcile button to unreconcile the selected entries.
In the pop up dialog window, confirm / enter the letter for the Lettrage to be unreconciled.
Click OK to unreconcile the entries.
Selected entries are highlighted in green color.
Unreconciled entries will be shown in white color.
11. Click on the Base Currency tab on the top right.
Exchange gain / loss will be unrealized when the entries are unreconciled.
User will need to manually reconcile entries that are not automatically reconciled by the system, for example manual Journal Entries documents.
This is to capture the realized exchange gain / loss correctly.