If the foreign bank balance is zero but the sterling balance still shows a value, it’s because of exchange rates. Revalue the bank account using the Foreign Bank Revaluation wizard.

If the foreign balance doesn't show zero when it's expected to, you need to post a bank payment or bank receipt. This changes it to zero. You can then revalue the bank account.

The foreign balance needs to be zero

1. In Sage 50 Accounts, go to Bank accounts and select the correct foreign bank.
2. If you need to reduce the balance, select Bank payment. If it needs to increase, select Bank receipt.
3. Enter the information as follows:

You can now follow the steps in the reset the base currency balance section.

Reset the base currency balance

To set the base currency balance to zero, you can run a Foreign Bank Revaluation. You adjust your base currency balance by using an exchange rate of 1.

1. On the menu bar, go to Modules, then select Wizards.
2. Select Foreign Bank Revaluation.
3. Select the Currency of the bank to revalue then the foreign bank account.
4. Press Next.
5. Ensure the Date is correct for your revaluation.
6. Enter 1 in the Exchange Rate field, then press Next.
7. Confirm the new Sterling balance is zero then press Post. 
8. If you’re prompted to update your Exchange Rates, select No.

The base balance of this bank now shows as zero.