Since this question relates directly to Sage 50 CA (formerly Sage Simply Accounting), I am going to move this post to that Support Group so that other users of this software will see it and can offer their thoughts and insight.

Thanks,
Derek

assuming you are using 'transfer funds'
transfer the original amount back to the us account - reversing your original transfer
transfer the funds from us account to cdn account using the current exchange

The entry can also be done in one correction entry by looking up the original (which will probably bring you to the General Journal if the original entry was done in the General Journal or Transfer Funds), click the Adjust button on the toolbar, change the exchange rate to the correct one, review the General Journal Report on the Report menu to make sure the CAD and USD amounts are accurate and hit Post (Process). This process will still post two entries, but only one change needs to be made instead of recreating the entries twice (more chance of data entry error and takes longer).

I personally never use Transfer Funds when doing foreign currency transactions because you cannot see the journal entry before posting.

Thank you Roger and Richard for your responses. The thing is that I'm doing historical bank recs so I have completed 6 months worth of bank recs for the usd account only to realise the right amount didn't get transferred to the Canadian bank account.

Richard, would it still be possible for me to adjust it through the general journal?

Assuming month 7 of your bank recs is within the current or last fiscal year's, I see no reason why not. If you are concerned about causing a problem, take a backup of your file first or take a copy and try it on the copy before you try it on your live file.

Thanks a lot Richard.