Hello ATO, we have foreign currency bank account and use XERO to manage our business. Now we got a problem regarding to foreign currency bank account revaluation at the end of financial year. XERO put the bank revaluation account automatically into profit and loss statement, but bank revaluation amount is Unrealized Gain/Loss and it cannot be in the P/L. I find that Xero can reset exchange rate (Organization settings - Currencies ) If I reset the exchange rate at 30 June 2023（There is no any foreign trading or transaction on 30 June 2023) the bank revaluation can be adjust to 0 and no other account were affected ( I tested) can I use this method to adjust bank revaluation account to 0? or are there any potential consequences to this adjustment? Thank you so much ATO
This thread is archived and the information may not be up-to-date. You can't reply to this thread.
1,962 views
2 replies
1,962 views
2 replies
Hey @Teresaxiao0525!
We've had word back from our tech team who've advised this needs to be raised with the provider being XERO. This isn't something we are able to provide assistance with. Get in touch with them and they should sort it out for you.
All replies
Hey @Teresaxiao0525!
We've sent this off to the STP experts for some advice for you. Once we've heard back, we'll update you here.
Thanks for your patience!
Featured articles
22 Apr 2024 · 6 min read time
15 Apr 2026 · 5 min read time
15 Apr 2026 · 4 min read time