The system makes it possible to assign a currency to a given cash/bank account. By default, each new account is added in the system currency. In order to change this setting, the user should select a currency on the account form and choose an exchange rate type for purchase and sales documents.

In the case of bank accounts, an exchange rate is defined by a bank. It means that a USD transfer to a EUR account is recalculated with an exchange rate specified by a bank in which the account has been created, and not by FED’s average exchange rate.

Each currency account should have an assigned exchange rate type for purchase and sales. Owing to that, it will be possible to correctly recalculate revenues, expenditures, and balance in reports, depending on a transaction type.

If an account has the system currency assigned, transactions in any currency can be entered in a report created for that account. Otherwise, only transactions in the account’s currency can be entered in a report.