× The internal search function is temporarily non-functional. The current search engine is no longer viable and we are researching alternatives.
As a stop gap measure, we are using Google's custom search engine service.
If you know of an easy to use, open source, search engine ... please contact support@midrange.com.


  1.  Home
  2. SYSTEM21
  3. October 2002

[SYS21] FAS52 Foreign Currency Question

Per SFAS 52, foreign currency translation gain/loss is recorded as Other
Comprehensive Income, which is a balance sheet account within equity.  In GEAC,
you tell the system what account you want the foreign currency gain/loss posted.
 However, the issue is that GEAC only allows you to post the gain/loss to an
income statement account, not a balance sheet account.

Does anyone have a workaround without programming?

Seems to be just an edit check in the program not allowing posting to a balance
sheet account.  Has anyone removed the edit check in the program to allow
posting to a balance sheet account, and were there any other problems later.

Thanks.

As an Amazon Associate we earn from qualifying purchases.

This thread ...
Follow On AppleNews
Return to Archive home page | Return to MIDRANGE.COM home page

This mailing list archive is Copyright 1997-2024 by midrange.com and David Gibbs as a compilation work. Use of the archive is restricted to research of a business or technical nature. Any other uses are prohibited. Full details are available on our policy page. If you have questions about this, please contact [javascript protected email address].

Operating expenses for this site are earned using the Amazon Associate program and Google Adsense.