Setup

Realized gains and losses

Once a transaction is closed - meaning it's been paid in full - any unrealized gain or loss is considered realized. It now has an actual effect on your business's bottom line. Realized amounts are automatically recorded in an income account created specifically for tracking currency gains and losses, along with the exchange accounts associated with your foreign-currency accounts. In MYOB Premier Accounting, an income account for realized gains and losses is created automatically when you set up Multicurrency. Its name, appropriately, is "Currency Gain/Loss'

Related topics