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Recording a converted opening TB

An opening TB, converted from USD to Euros, where original Euros amounts are different

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Following a cross-border merger, I am trying to record an opening TB in Euros, converted from USD to Euros. There are a some debtors and creditors accounts, which have the underlying balances in Euros, originally. These original Euro amounts are different to the Euro amounts arrived at when the USD TB was converted to Euros. How do I adjust the converted Euro amounts to record the original Euro amounts and which account(s) do I adjust for the adjusting entries? Retained earnings?

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By Andy556
02nd Dec 2021 14:02

I think I know what you mean. Do you mean the TB has changed since it was originally done?
If so then you will have to work out why it's changed and process each transaction correctly.
Opening TB's can't just change, you'll have to put it back to how it was originally, make sure it agrees to the submitted accounts and go from there adding whatever transactions are needed

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