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Foreign-currency accounts
Link a bank, cash or other monetary account to one fixed foreign currency.
A foreign-currency account retains both the balance in its fixed foreign currency and the carrying amount in the accounting currency. One account always has one currency meaning; there is no general account for changing currencies.
Step by step
- 1Create or open a suitable monetary ledger account, such as one for a foreign bank account.
- 2Choose Fixed foreign currency and select the currency that actually belongs to the account.
- 3Before setting or changing currency mode, confirm that the account has no financial postings.
- 4Afterwards, post only amounts in that fixed currency to the account.
- 5Review the foreign-currency balance and carrying amount separately in currency views.
What is on the screen?
- Accounting currency or fixed foreign currency
- ISO currency code
- Foreign-currency balance
- Carrying amount
What happens next?
After first financial use, currency mode and fixed currency are locked. Existing posting lines therefore cannot acquire a different currency or meaning afterwards.
Continue reading
Foreign currency
Distinguish accounting currency, transaction currency, original amount and carrying amount.
Read guidance →Exchange rates
Record the foreign-currency amount and applied rate and understand the conversion direction used by Boekhouden.
Read guidance →Posting in foreign currency
Post original currency amounts and their corresponding value in the accounting currency.
Read guidance →