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amd87 · 04-08-2008, 12:10 PM

Hi there

The easiest way to clear this up is to have an account that you can post the other side of the entry to.

Set up a "Cash Clearing" account right under your bank account in the Chart of Accounts. Where it asks for the Class Options tab, choose "Bank".

When you go into the XYZ account to clear the prepayment, choose the Cash Clearing account instead of Bank for the option of where the other side of the entry will go.

When you go into the XYZ USD account to clear the balance, also choose the Cash Clearing account instead of Bank for the option of where the other side of the entry will go. This will clear things out of each account in the Accounts Payable module.

If you end up with a small difference between the two showing in the Cash Clearing account I imagine that would be the foreign exchange amount and you can clear that through the General Journal.

If you can understand what I'm getting at here it should work to clear those two balances.

Have a nice day!

04-08-2008, 12:10 PM	#2 (permalink)
amd87 Status: n00b Join Date: Mar 2008 Posts: 13 Credits: 223	Hi there The easiest way to clear this up is to have an account that you can post the other side of the entry to. Set up a "Cash Clearing" account right under your bank account in the Chart of Accounts. Where it asks for the Class Options tab, choose "Bank". When you go into the XYZ account to clear the prepayment, choose the Cash Clearing account instead of Bank for the option of where the other side of the entry will go. When you go into the XYZ USD account to clear the balance, also choose the Cash Clearing account instead of Bank for the option of where the other side of the entry will go. This will clear things out of each account in the Accounts Payable module. If you end up with a small difference between the two showing in the Cash Clearing account I imagine that would be the foreign exchange amount and you can clear that through the General Journal. If you can understand what I'm getting at here it should work to clear those two balances. Have a nice day!