Setup

Entering multicurrency transactions

Once you've set up your currencies, you can begin entering transactions for them. Entering these transactions is easy -- they're just like standard transactions in US dollars.

Multicurrency transactions can be recorded in the following areas in AccountEdge:

Sales
Purchases
Spend Money
Receive Money
Receive Payments
Pay Bills
Settle Returns and Credits
Settle Returns and Debits
Historical Sales
Historical Purchases
Customer Reimbursable Expenses
Record Journal Entry

Exchange rates

Multicurrency transactions can be viewed throughout AccountEdge. If you want to change the exchange rate for a single transaction, click the Exchange Rate button to display the Exchange Rate window.

Because currencies continually fluctuate in value, you'll want to update your currency records periodically. If you record many transactions in other currencies, you may want to update the exchange rates for your currency records often -- every week, or even more frequently, depending on the volatility of the currency and your desire for precision. These exchange rates will appear as default entries on your AccountEdge transactions. As with all default entries in AccountEdge, you can change the exchange rate on individual transactions. Likewise, when you reconcile your checking accounts, you can update the exchange rates assigned to your checks and deposits to reflect the rate used by your bank at the time the checks were cleared or the deposits were made.

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