This chapter contains these topics:
Section 6.1, "Entering Journal Entries with Foreign Currency,"
Section 6.2, "Locating Journal Entries with Foreign Currency."
You can enter amounts in either a foreign or the domestic currency. Foreign transactions are entered in a currency that is different from the base currency associated with the company. The system converts them to the domestic currency at the time of entry. You can also enter the domestic amount of a foreign transaction and have the system calculate the foreign amount.
Foreign currency journal entries have two different currency code fields:
Base Co. Currency Code. The document company determines the base company currency code. If you do not enter a document company, the system supplies the default document company and its associated base currency code based on the business unit in the first account number entered for the journal entry.
Transaction Currency Code. The transaction currency code indicates the currency denomination for the amounts originally entered for a transaction. If the transaction currency code is blank, the base currency code applies.
From General Accounting (G09), choose Journal Entries
From Journal Entry, Reports, & Inquiries (G0911), choose Journal Entry
Topic | Description |
---|---|
Ledger types | The system writes foreign transaction amounts to the CA (currency amounts) ledger and domestic amounts to the AA (actual amounts) ledger. If you use detailed currency restatement, it also creates transactions in the XA (detailed restatement amounts) ledger. The ledger type indicates which ledger or set of books is updated by the transaction. |
Exchange rates | The system uses an exchange rate from the exchange rate table using Set Daily Transaction Rates unless you enter an exchange rate on the Journal Entry form. Do this only to override the rate that is already set up for the currency. |
Default Journal Entry Sever (XT0911Z1) options | The currency processing options allow you to certain controls when entering foreign journal entries. You may choose to:
|
See Also:
Working with Basic Journal Entries in the JD Edwards World General Accounting I Guide,
Section 1.5, "Multi-Currency Setup Comparison" for information about entering an override rate for detailed currency restatement.
To enter a journal entry with foreign currency
On Journal Entry
Follow the steps to enter a basic journal entry.
Complete the following fields:
Currency Code
Exchange Rate (optional)
Access the detail area to view the ledger type.
Figure 6-2 Journal Entry screen's Detail Area
Field | Explanation |
---|---|
Currency Code | A code specifying the currency of the transaction. This can be any code defined on the Designate Currency Codes form.
Note: This currency field only applies to AA and CA ledger types when posting by currency is activated. Form-specific information If you leave this field blank, the system supplies the company currency code associated with the account number of the first detail line for the journal entry. |
Exchange Rate | The conversion rate that the system uses to convert foreign currencies to domestic currencies. If the Multi-Currency Conversion option on the Set Multi-Currency Option form is set to Y, this rate is a multiplier. If it is set to Z, this rate is a divisor.
Form-specific information If you leave this field blank, an exchange rate is supplied from the Exchange Rate table on the Set Daily Transaction Rates form. If you enter a transaction using an alternate currency, you can specify a spot exchange rate for the AA to XA calculation. The spot rate overrides the default exchange rate if the processing option is set to allow this. |
See Section 40.13, "Journal Entry (P09101)."
See Section 40.14, "Journal Entry Functional Server (XT0911Z1)."
To locate a journal entry with foreign currency
You can locate journal entries and review the amounts in both the base and the transaction currency.
On Journal Entry
Complete the following fields:
Document Type
Document Number
Review the following field:
Base Company Currency
Change the following field (optional):
Mode
Access the detail area to review the ledger type for the displayed currency.
Field | Explanation |
---|---|
Base Company Currency | A code that indicates the domestic currency of the company the account is associated with, as defined on the Designate Company Currency form. |
Mode | A code that specifies whether amounts are in the domestic currency of the company the account is associated with or in the foreign currency of the transaction. Valid codes are
D – Domestic F – Foreign Form-specific information If you enter: F – Foreign amounts appear, and the default ledger type is CA D – Domestic amounts appear, and the default ledger type is AA If you use detailed currency restatement, these codes apply: X – Transactions in the XA ledger Y – Transactions in the YA ledger Z – Transactions in the ZA ledger |