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Posting Open Balance to a All Currencies G/L Account

Former Member
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Hi All,

I have a situation for which some assistance is required.

I am trying to post opening balance to the G/L bank account which is defined as ALL Currency.

On the G/L the system show that Account as Currency = All Currencies and adjacent to the Balance it shows that currency ID as GBP.

This account is a $ Account and I want to post the Open Balance in $. However, when I try to create the Open Balance the FC columns are disabled.

What am I missing?

Best regards

Earl

Accepted Solutions (0)

Answers (2)

Answers (2)

Former Member
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I would really NOT recommend using All currencies as the bank account currenscy. It causes issues with reconciliations and deposts etc.

Bank accounts are usually single currency accounts at the bank, so it is better to set these as single currency

Former Member
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Hi Earl,

There is nothing wrong. If it is a MC account, all JE would be based on LC. Hence only LC would be allowed for Opening Balance. If it is not LC, convert it to LC for posting.

Thanks,

Gordon