Problem with bank account

[Sadie]

Hello everyone. I need help asap! I am doing the accounting of a company and they have two bank accounts, one in USD and the other one in EUR. The Balance sheet have to be in EUR. My problem is the following...

The company issued invoices in both currencies and the payments from the USD bank account were for both currencies, payments of EUR invoices and USD invoices. Every time that the payments are done, the software automatically put the EUR amount from the currency exchange of that day. The problem I have is that because of this, the balance of the USD bank accounts is negative on the Balance sheet while in the bank statements it's obviously positive.

This is more or less what happened to me but resulting in a negative balance.

Can someone help me, please?

 

[Ashley K. Knowlton MBA]

Do you have a reconciling account for "currency exchange" or "forex" or something?

Generally most companies do a periodic entry (debit/credit the account in question, offsetting credit/debit to currency exchange account) to "true up" the accounts. I do mine as a part of the monthly bank reconciliation process.