FAQ: Foreign Balances Report

Why do balances change when I run the report on different dates?

Balances are recalculated using the current exchange rate at the time the report is run. If exchange rates have moved between one date and the next, the base-currency value of your foreign balances will change. The amount in the foreign currency itself doesn't change—only its value in your base currency.

Can the Foreign Balances report show me what part of a balance is overdue?

Yes, look at the "Days Outstanding" column. This shows how many days the balance has been unpaid. You can also use the "Days Outstanding" filter to show only balances older than a certain number of days, helping you focus on collection efforts.

Why is a balance missing from the report?

Settled or fully paid balances do not appear on the Foreign Balances report—it only shows outstanding amounts. If you paid an invoice but expect to see it here, verify that the payment was fully recorded in the system. Partially paid invoices will still appear with the remaining balance.

How should I use this report for reconciliation?

Compare the Foreign Balances report to your accounting records (subledger or general ledger) to ensure they match. If amounts differ, investigate whether:

• Recent transactions haven't been recorded yet.
• Exchange rates in the system need updating.
• Payments have been recorded but balances haven't been updated.

Can I track historical changes to foreign balances?

The Foreign Balances report shows a snapshot as of the selected date. To track changes over time, run the report on multiple dates (e.g., end of each month) and compare the results. Usystems does not currently provide a historical trend report, but comparing snapshots can help you spot patterns.

What exchange rate does the report use?

The Foreign Balances report uses the exchange rate in effect on the date you run the report. Make sure your exchange rates are kept current. If you need to report balances as of a historical date (e.g., month-end), select that date in the report filters—Usystems will use the rate that was active on that historical date, if available.

Should I include unrealized currency gains/losses with foreign balances in my financial statements?

This depends on your accounting standard (IFRS, GAAP, or local rules). Foreign balances appear on the balance sheet; unrealized gains/losses are usually shown in a separate section (comprehensive income) or in the profit and loss statement. Consult your auditor or accounting manager for guidance.

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