ACCOUNTEDGE PRO MULTI CURRENCY UPDATE
ACCOUNTEDGE PRO MULTI CURRENCY CODE
ACCOUNTEDGE PRO MULTI CURRENCY PROFESSIONAL

This default can be over-written when you create a transaction, however. In each case, you will use the exchange rate you indicated in the Currency List.

After setting up the multi-currency feature, you can enter transactions in Sales, Purchases, and Banking.

The header value will show the value of its sub-accounts in the local currency. TIP: You can create a foreign currency header account, and group your foreign currency accounts under this header. See the Historical Purchases / Sales FAQ for details. Step 7: Historical Transactions-You can enter Historical Transactions for your international customers and vendors. Step 6: Link Currency to Customers and Vendors-On each customer and vendor card, indicate the appropriate currency. Step 5: Link Accounts-Link the foreign currency accounts to the Receivables and Payables accounts, for each currency in the Currency List.

ACCOUNTEDGE PRO MULTI CURRENCY PROFESSIONAL

Currency Gain/Loss-Consult with your accounting professional.A liability account for import duties collected.An asset account for Deposits paid (deposits you pay).A liability account for tracking payables.Liability account for deposits you receive on Orders.Asset Bank account for receipts and disbursements in the foreign currency (optional, if applicable).An asset account for tracking receivables.Click the Profile tab and enter an Opening Balance if necessary AccountEdge Pro will place an exchange value in the exchange account, since you already indicated an exchange rate.

ACCOUNTEDGE PRO MULTI CURRENCY CODE

Indicate the Currency Code AccountEdge Pro will create the exchange account.Enter an account number and name (AccountEdge Pro by default, will create an exchange account with a number that is one greater than the number you indicate here but you can change that number).Click the New button to create an account.The value in the exchange account will be the difference between the value in the foreign account, and the value in your local currency. Step 4: Create accounts to track foreign currency transactionsįor each foreign currency account you create, AccountEdge Pro will create an exchange account. Leave the Currency List window open, you'll use it in Step 5. Indicate the Exchange Rate for each applicable currency in the list.Click New to create new currency entries.

ACCOUNTEDGE PRO MULTI CURRENCY UPDATE

Click the arrow to the left of currencies you need to update (you can change the names of unused entries).Select Currencies from the drop down menu.Click Lists from the menu bar at the top of the screen.Check mark 'I Deal in Multiple Currencies'.Select Preferences from the drop down menu.Select Setup from the menu bar at the top of the screen.Step 1: Turn on the multi-currency preference Card File cards (Customer, Vendor, etc.) will be available for other transactions.This is necessary to ensure that historical amounts for these individuals aren't misstated. If a different currency should be used for these individuals, users will need to create a new customer, vendor or employee cards, respectively.Once transactions are recorded without setting up multi-currency, all transactions for referenced customers, vendors and salespeople will be set up to use the local currency.Once multicurrency is enabled and transactions are entered, it cannot be disabled.To use the AccountEdge Pro international transactions (multi-currency) feature, you'll need to enable the feature, and create and link the foreign currency accounts, which you'll need to have created. These foreign accounts can also be reconciled. You can set up foreign bank accounts including checking accounts that can be used to record transactions in a foreign currency. Multicurrency (International) Transactions.Revenue (Income), Expenses, Cost of Sales.Receive Foreign Currency to a Local-currency Bank Account.Transfer Funds from a Foreign to a Local Account.Transfer Funds from a Local to a Foreign Account.International Transactions (Multicurrency)

Accountedge pro multi currency