Quickbooks Exchange Rates

Sevren

Hopefully somebody can help me with a problem that I have chased around in circles until my head is spinning !

I am not sure if this is a QB issue or an accounting one - but where suppliers have invoiced in a foreign currency and I have subsequently paid in a foreign currency (at a different exchange rate to the tax point of the suppliers invoice) the (foreign currency) creditor balance is zero but the balance sheet report shows the loss or gain on the shift in the rates in the control account still.

I am comfortable with the adjustment that qb makes for this in the loss/gain account (I think) but not sure how this ever gets removed from the balance sheet ?

As usual the qb helpfile is useless.

Any help would be welcome !:crying: