I need to take on Customer (Debtor) balances in USD and in Zambian Kwacha. My home currency is Kwacha.
I have followed the steps to create the Customer and then entered the opening balance using the' as of ' date field and selected the drop down box ' paid in USD'. However when we select 'Paid in USD' the balance and as of date disappear and do not show in the trial balance after we have saved the transaction. Although it does create the customer account there are no transactions in the account.
As this is a take on balance the debit should go to Accounts Receivable and the credit to Opening Balance Equity.
I have set up all the Supplier accounts with opening balances in USD and Kwacha, and the Accounts Payable balance agrees to our prior year financial statements. The problem is with Accounts Receivables and for only 3 customers. Please help!?
