To record unrealized gains and losses

Setup > Working with multiple currencies > Recording unrealized gains and losses > To record unrealized gains and losses

Print the Currency - Unrealized Gain/Loss Report, then complete the following steps:

The Record Journal Entry window should be displayed. (To find the Record Journal Entry window)

  1. Enter the date (generally the last day of the month) and a description of the transaction.
  2. In the scrolling list in the middle of the window, enter a transaction for the unrealized gain or loss. This transaction should have a separate debit and credit entry for each account that appears on the Currency - Unrealized Gain/Loss Report. (All amounts are entered in United States dollars.)
If the account is an asset account

If the account is a liability or equity account

  1. Save the General Journal entry as a recurring transaction. By doing this, you'll save time when you record your unrealized gains and losses in future months. Click the Save Recurring button; the Save Recurring Transaction window appears.
  2. Enter a name for the transaction, then choose a frequency (we recommend that you choose Monthly) and the day on which you want this transaction to appear in the To Do List window each month. Click Record to save your entries and close the Save Recurring Transaction window.
  3. In the Record Journal Entry window, click the Record button to record the transaction for this month.

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