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Posting in foreign currency
Post original currency amounts and their corresponding value in the accounting currency.
A currency posting must be correct in both the foreign currency and the accounting currency. For a manual journal entry, the posting date is also the rate date.
Step by step
- 1Choose an open posting date and add the fixed-currency account.
- 2Enter the foreign-currency amount and applied rate; review the calculated amount in the accounting currency.
- 3Add the counter-account and any other lines. The journal must balance completely in the accounting currency.
- 4Post known bank or transaction fees as a separate expense line rather than hiding them in an adjusted rate.
- 5After posting, review the foreign-currency balance, carrying amount and ledger card.
What is on the screen?
- Posting and rate date
- Original amount
- Applied rate
- Amount in accounting currency
What happens next?
The posting retains both values. For bank and cash, Boekhouden uses a moving weighted average for the carrying amount released when currency leaves the account.
Continue reading
Exchange rates
Record the foreign-currency amount and applied rate and understand the conversion direction used by Boekhouden.
Read guidance →Foreign-currency positions and remeasurement
Compare the carrying amount of an open monetary position with a closing rate on a selected date.
Read guidance →Journal entries
Post a balanced manual movement and correct it only in an open period.
Read guidance →