I have a CAD balance of $16,000 in a GL account and the actual USD balance is zero. How do I get the CAD balance to zero as well?

Hi AMH5,

Thanks for reaching out here.  It's essential that your bank accounts are balanced in QuickBooks Online.  I'll be happy to help!

Based on the information you've provided, you can can create a home currency adjustment to change the value of your foreign balances.  Before entering the adjustments, I suggest reaching out to your accountant.  If you don't have an accountant, we can help you locate a ProAdvisor in your local area.

Here's how to create a home currency adjustment;

1. Go to Settings ⚙️ and select Currencies

2. Find the currency you want to adjust

3. Select the ▼ dropdown menu under the Actions column

4. Choose Revalue Currency

5. Select an As of date to run a currency revaluation

6. Choose whether you'd like the revaluation to be based on the Market rate or a rate Your rate 

8. Hit Revalue.

For more information about home currency adjustments, click here.

Please feel free to reach back out if you have other questions.  We'd love to help!