Hello Community,
I have a concern on migrating cash account balances for cash accounts in foreign currencies. Here is the steps I have taken.
- The cash accounts are denominated in foreign currencies which makes unable to post transactions in local currencies.
- Therefore, when migrating the TB via a journal I have set up a clearing account and debited the balance of foreign currency cash account to the clearing account.
- Then created another journal in foreign currency to the cash account crediting the clearing account which makes the clearing account balance is zero.
Once the migration is done, the clearing account balance become zero. But it keeps showing the debits and credits posted to in the TB. What we can do to this account to make it not visible in the TB.
Thanks,
Dulanjana