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Enter past transactions using multiple currencies

When using multiple currencies in your company file, there may be times when you need to enter a past (historical) transaction using a currency that is not your home currency. When a past transaction like this is entered, the exchange rate is calculated based on the Exchange Rate and As of Date in the Currency List. The correct exchange rate will be calculated, as long as the correct Exchange Rate and As of Date are entered for the currency you are working with.

Solution description

Sample Scenario: Your home currency is US Dollars and you are writing a check dated 08/29/15 in Philippine Peso.

  1. From the Lists menu, click Currency List.
  2. In the Currency List window, right-click Philippine Peso and select Edit Currency.
  3. In the Exchange Rates section, find an As of Date for 08/29/15.
  4. Ensure the Exchange Rate for this date is accurate.
  5. If there is no As of Date for 08/29/15, create one.
    1. Click in a blank As of Date field and select 08/29/15.
    2. Enter the correct Exchange Rate.
  6. Click OK in the Edit Currency window and close the Currency List.
  7. Write the check in Philippine Peso dated 08/29/15. The exchange rate should calculate correctly.
KB ID# HOW12852
12/6/2016 6:00:52 AM
PPRDQSSWS403 9138 Pro 2017 6636e3