All that’s left to do is post any FX and/or interest adjustments where necessary.
Please note that these are optional steps:
If you are operating with same currency loans then FX adjustments will not be relevant
If you do not charge interest on intercompany loans then interest adjustments will not be relevant.
If either of these conditions apply, read on to find out how you can make the relevant adjustments with Balancer.
For FX adjustments, Balancer auto-calculates the conversion. You simply correct the balances by one click posting your FX adjustment journal into Xero.
For interest adjustments, there’s the easy ability to set the interest rate that should apply to the loan. Balancer auto-calculates the adjustment for you to one-click post into Xero.
Not quite so sure?
Visit the Mayday Academy for more information on intercompany loans and loan account automation.
If you would like any additional support, please get in touch with the team using the chat support function, or via our email: support@getmayday.com