Need to edit the "Exchange Rate" on reconciled transaction

[Goodrunaway]

We have two bank accounts under different currencies. We are constantly transferring funds from one currency to another. Then, at month-end when we reconcile the two accounts we might find that exchange rates in Zoho Books does not match up with what the bank was offering on the transaction date.

In our case the source account has been reconciled. The amount transferred to the destination, however, is different than Books has recorded. And so, we want to update the Exchange Rate for that transaction in Books. This would NOT change the transaction amount in the reconciled source account. Instead, it would ONLY impact the amount deposited in the destination account. However, when we try to edit the Exchange Rate for the transaction, Zoho Books is giving us an error saying: "This transaction has been reconciled. Hence, the fields which affect the transaction amount cannot be modified."

I would think our situation is quite common. Other than unreconciling the source account, making the change, then re-reconciling, what are our other options?

[MadysonHensley]

We’ve had a similar issue with exchange rates when reconciling transactions across different currencies. It’s frustrating when Zoho Books locks you out from updating the exchange rate on a reconciled transaction. In our case, we tried the un-reconcile, update, and re-reconcile method, but it’s so time-consuming, and honestly, it doesn’t feel ideal for us either. One thing we’ve been looking into is using external tools to monitor exchange rates better before reconciling. I found this site, ownersclubfx.com, that offers real-time rates and could help in getting more accurate data before you finalize the transaction. It might not solve your Zoho Books issue directly, but it could help track things better in the long run!