Scenario
When checking Chart of Accounts, Foreign Currency Balance column shows zero however Balance column (in Base Currency) does not.
Solution
- Navigate to transaction > Financial > Revalue open currency balances
- Check the include box of the account specified.
- Click save
The reason is the transactions are not revalued yet, show a balance in the column Balance (in Base Currency) but leave the Foreign Currency Balance to 0.00.
Closing balance for the base currency will be added to the Unrealized Matching Gain/Loss Account.