Why doesn't my foreign currency bank account balance match the exchange rate?

A foreign currency bank account in iplicit holds each transaction at the exchange rate used when it was entered. The account balance reflects a mixture of rates, not a single one - so it won't match today's rate or any specific rate you have in mind.

Why this happens

Invoices, receipts, payments and journals entered against a foreign currency bank account can each use a different exchange rate. The account balance is the sum of all these transactions at their individual rates, which means it naturally diverges from any single reference rate.

Resolution

Run an FX revaluation to realign the account balance to one consistent exchange rate:

1. Navigate to FX Revaluation.
2. Select the bank account.
3. Enter the exchange rate you want to revalue against.
4. Run the revaluation.

For the full step-by-step process, see FX Revaluations in the iplicit user guide.