1. Multicurrency Processing Implementation Guide
  2. Example: T-Accounts for Alternate Currency Receipts

Example: T-Accounts for Alternate Currency Receipts

These t-accounts describe how transactions move in and out of accounts when an alternate currency receipt is involved. The t-account entries are for a foreign currency invoice (500.00 CAD), the domestic side of the invoice (313.44 USD), and an alternate currency receipt (347.33 EUR).

These exchange rates apply:

  • Exchange rate (invoice date):

    1 CAD = 0.62688 USD

  • Exchange rates (receipt date):

    1 CAD = 0.69466 EUR

    1 EUR = 0.9024271 USD

T-accounts for revenue, trade, cash, and clearing accounts

The alternate currency entries are EUR.