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Exchange Rate used for Reversal Journals

in Ask A Guru 11 comments

Hello,

I would like to ask you for any suggestions regarding issue with Exchange Rates used on Reversal Journal Entires.

Per checking the Answer Id: 7744 :

A reversing journal entry is an exact opposite of the original journal entry. For example, the original journal entry debits Accounts Receivable $100, credits a revenue account $100, and has an exchange rate of 1.5. The reversing entry credits Accounts Receivable $100, debits the revenue account $100, and has an exchange rate of 1.5 regardless of the current exchange rate.

You cannot directly edit a reversing journal entry.

Within the Czech legislation regarding booking accruals in foreign currencies, it is required to use daily Exchange Rate for booking reversing journals.

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