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Community > Accounting >

Reconciling foreign currency cash withdrawal

Started by William Trainor -   in Accounting


There is probably a simple answer to this question so apologize if this is the case :)

I recently drew foreign currency against a business account to use for cash expenses on an overseas business trip. The cash purchase shows as a withdrawal in my account, however I am now wondering how do I reconcile the individual expenses against the account?

For example I withdrew $1000 and spent $800 on a variety of different types of expenses (cabs, hotel bill, meals etc) and have $200 left over from that $1000 withdrawal. How do I now code the different expenses against different accounts (travel, meals etc), thus offsetting the withdrawal I made for $1000 cash? And if I am holding onto the $200 left of that withdrawal for future use, how do I capture that in Xero?