Reckon doesn't recognize Foreign Currency Balance & Open balance in the reporting module.
However, by having rate exchange on the original bills & invoices and knowing the outstanding balance recorded on foreign currency AP & AR account and by adding only foreign exchange from Reserve Bank of NZ, system should be able to automatically calculate accrual for unrealized foreign loss or gain on exchange rate (as all the information is already in the system). As of now, it is required to manually check Foreign Open Balance and manualy calculate unrealized fx.
It is time consuming and creates more options for errors.
Defintiely agree!
Having the ability to subscribe to the Reserve Bank of Australia's RSS feed to keep foreign exchange rates up to date would be helpful.