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June 2021 Ending Consolidation Exchange rate does not match the Ending Rate

edited Jul 26, 2021 7:23PM in Ask A Guru 5 comments

While doing our month end reconciliations we noticed that the exchange rate being used on the Balance sheet is the Consolidated Exchange rate which is quite different from the Exchange rate at the end of June. In the past, the Consolidated rate always matched the ending rate for the month. As a result, our balance sheet is showing incorrect balances.

Consolidated exchange rate for end of June 2021 GBP $1.61178499

Exchange Rates as of 6/30/2021 $1.38347

We have never had this issue before, so we are wondering what we skipped or what we did wrong during this close, or do we have an issue with NS?

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