RadioHam said:

Sometimes I pay myself a dividend in US$ direct from that account

RadioHam said:

but the books are not in agreement with the bank

You could think of the way the US$ account is stored in Sage 50 as two separate 'adding machine tapes', one for each currency.  The balance of the 'home' currency will not automatically agree to the balance of the foreign currency.  This is normal, because cash is going in, and out of the bank at varying rates.  It's incredibly unlikely that the end home currency will randomly match the market.

If you put in $2000 at 1.30 last month and take out 1000 at 1.40 this month, the CAD balance will be $1,200.  If the value of the remaining $1000 US at month end @ 1.35 is $1,350 and not $1,200 CAD, then you need to make an adjustment.

RadioHam said:

I need to make an adjusting entry to correct the US bank

To enter exchange gain / loss adjustments in a foreign currency bank account:

The procedure Sage posted for this was:
- Set up a G/L entry to post $1.00 to Exchange Gain / Loss, and $1.00 to the foreign currency account with an exchange rate of the adjustment amount plus $1.00.
- Do the reverse of the first entry, with an exchange rate of $1.0000.

If you need to adjust the home currency amount for the foreign account by, for instance 1000, post with an exchange rate of $1001.0000, then post the reverse transaction with an exchange rate of $1.0000. This will add / reduce the Home Currency by a net of $1,000.

Always press control-J to check that you're debiting the correct account. To increase the home currency, debit the bank account. To reduce it, credit the bank account.

Save this as a recurring monthly transaction as a reminder to check each month at reconciliation time.

I hope that helps, please post back.

RadioHam said:

Sometimes I pay myself a dividend in US$ direct from that account

RadioHam said:

but the books are not in agreement with the bank

You could think of the way the US$ account is stored in Sage 50 as two separate 'adding machine tapes', one for each currency.  The balance of the 'home' currency will not automatically agree to the balance of the foreign currency.  This is normal, because cash is going in, and out of the bank at varying rates.  It's incredibly unlikely that the end home currency will randomly match the market.

If you put in $2000 at 1.30 last month and take out 1000 at 1.40 this month, the CAD balance will be $1,200.  If the value of the remaining $1000 US at month end @ 1.35 is $1,350 and not $1,200 CAD, then you need to make an adjustment.

RadioHam said:

I need to make an adjusting entry to correct the US bank

To enter exchange gain / loss adjustments in a foreign currency bank account:

The procedure Sage posted for this was:
- Set up a G/L entry to post $1.00 to Exchange Gain / Loss, and $1.00 to the foreign currency account with an exchange rate of the adjustment amount plus $1.00.
- Do the reverse of the first entry, with an exchange rate of $1.0000.

If you need to adjust the home currency amount for the foreign account by, for instance 1000, post with an exchange rate of $1001.0000, then post the reverse transaction with an exchange rate of $1.0000. This will add / reduce the Home Currency by a net of $1,000.

Always press control-J to check that you're debiting the correct account. To increase the home currency, debit the bank account. To reduce it, credit the bank account.

Save this as a recurring monthly transaction as a reminder to check each month at reconciliation time.

I hope that helps, please post back.