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Multi-currency Entries


#1

Hello,

I know that at the transaction level, I can change the currency for the transaction, but let’s say I use USD as base currency and also EUR. If my currency exchange is rated at 1 USD = 1.5 EUR for instance; I want to make a journal entry to account “HSBC USD” for 10 EUR. The system should be able to take the 10 EUR and convert them to 15 USD and book the entry. The issue I have is that I don’t know where to tell the system that the entry is EUR and must be converted to USD to book the transaction. In a similar transaction, if I want to move funds from my USD account to my EUR account, I should be able to debit 15 USD from my USD account and enter that amount in my “HSBC EUR” account, again the system should be able to understand that 15 USD are equal to 10 EUR due to my exchange rate. Any idea where this is configured in the system to enable it? Thank you.


#2

Did you get an answer to this?