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Reports >> Accounting>> Realised FX Entries
Also see here for more FX reporting options.
Entering Hedges
This is the method for entering hedges into Actions.
In a nutshell, you represent the hedge as a purchase of the foreign exchange (FX) cover from the bank as an FX purchase invoice at the agreed-upon hedge rate (which should be the rate the sale was recorded at). You simultaneously record a sale to the bank of the NZ amount of the hedge (which should be the NZ value of the sale invoice if fully covered by the hedge). This will "float" with the sale invoice and offset any gain/loss.
On the day that payment is received you pay the sale invoice and both purchase invoices to the bank.
Example
If you have a US sale for US$1,000 on 17th July when the rate is 2.00 it will result in a NZ$2,000 sale. You receive payment pm 20th August when the exchange rate is 1.25 resulting in a $750 FX loss (if unhedged). This is how to hedge this sale.
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