Multi Currencies in one Journal Entry

Is it possible to prepare journal entries and assign a currency to each line level instead of the main line?

For example, dealing with both USD and CAD, we’d like to enter lines for both USD currency and CAD currency within one Journal entry.

Rookie Asked on March 2, 2021 in Accounting.
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3 Answer(s)

Have you considered the Intercompany journal?

Also, what type of accounts are you using for the CAD and ISD?

Beginner Answered on March 2, 2021.
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you cannot have a transaction – SO, PO, JE etc with multi currency – system was designed this way. One option is to use scripting to convert one of the currency to other – in essence you are have a single currency transactions.

Note – expense report is the only transaction that allows multi currency, but essentially it is converted to the base currency of the subsidiary.

Advanced Answered on March 2, 2021.
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@sam have you considered the role of Advanced Intercompany Journal which allows currency by line?

the Bank > Transfer Fund is also multi-currency and might satisfy the need in some situations.

 

Beginner Answered on March 2, 2021.
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