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Multiple Currency Transactions

You can control expenses regardless of the currency. You can enter purchase orders and invoices in a foreign currency and check funds for them. However, you must enter the exchange rate to convert foreign currency amounts to their equivalents in the functional currency.

Before entering foreign currency transactions, you must define currencies and rates of exchange in General Ledger.

The exchange rate defined in General Ledger is the rate you multiply the functional currency by to obtain the equivalent foreign currency amount. For example, if the functional currency is USD (U.S. Dollar) and the chosen foreign currency is FFR (French Franc), enter 5 if the exchange rate is 5 francs per dollar.

Note: The exchange rate in Purchasing and Payables is the reciprocal of the rate defined in General Ledger.

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