Setup

To record unrealised gains and losses


This topic applies to you only if you're using MYOB Accounting Plus.

Please note that this task requires that Multicurrency be set up. (To set up Multicurrency)

  1. Print the Currency Unrealised Gain/Loss report.


  2. Open the Record Journal Entry window


  3. Enter the date (generally the last day of the month) and a description of the transaction.


  4. In the scrolling list in the middle of the window, enter a transaction for the unrealised gain or loss. This transaction should have a separate debit and credit entry for each account that appears on the Currency - Unrealised Gain/Loss Report. (All amounts are entered in British pounds.)


    If the account is an asset account
    If the Currency - Unrealised Gain/Loss Report shows a currency gain for a bank account or another asset account, credit the Unrealised Currency Gain/Loss account, and enter an equal debit amount for the exchange account associated with the asset account. (The Unrealised Currency Gain/Loss account should be an expense account.)
    If the Currency - Unrealised Gain/Loss Report shows a currency loss for the asset account, debit the Unrealised Currency Gain/Loss account, and enter an equal credit amount for the exchange account associated with the asset account.
    If the account is a liability or capital account
    If the Currency - Unrealised Gain/Loss Report shows a currency gain for a liability or capital account, credit the Unrealised Currency Gain/Loss account, and enter an equal debit amount for the exchange account associated with the liability or capital account.
    If the Currency -Unrealised Gain/Loss Report shows a currency loss for the liability or capital account, debit the Unrealised Currency Gain/Loss account, and enter an equal credit amount for the exchange account associated with the liability or capital account.
  1. Save the Journal entry as a recurring transaction. By doing this, you'll save time when you record your unrealised gains and losses in future months. (To create a recurring transaction)


  2. In the Record Journal Entry window, click the Record button to record the transaction for this month.


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