Multi-Currency Tutorials

How to Create Transactions in Foreign Currencies

ℹ️ A foreign currency transaction is created in the same way as a local currency transaction.

The exchange rate is displayed in the bottom-right corner.

Only Items that have prices in the applicable currency can be added to a foreign-currency transaction.

The Transaction Type must allow the specific foreign currency.

Additional fields that display totals in local and foreign currencies can be added using the Field Chooser (*).

1. Navigate to the Transaction Type (e.g. Main Menu > Workflow > Quotations).

2. Click New (button).

   1. Select a Customer or Supplier from the dropdown list (whichever is applicable)

   2. Fill in the required information in the header.

   3. Add Items and Services as required.

   4. Enter the Unit Price in the Foreign Currency if applicable (e.g. if it is a custom entry).

   5. Verify the Exchange Rate displayed in the bottom-right corner.

   6. Click Save (button).

How to Enter Ledger Transactions in Foreign Currency

1. Check that Multi-Currencies are enabled for the applicable Transaction Type (see How to Setup Transaction Types to use Foreign Currency)

   • Note: If you change the option on the Transaction Type, you must restart BOS Enterprise before capturing the transaction.

2. Navigate to the Transaction you want to enter (e.g. Main Menu > Accounting > Ledger > New (button) > Expenses).

3. Change the Currency in the bottom right-hand corner to the currency of the transaction.

4. Edit the Exchange Rate in the bottom right-hand corner if necessary (if that option was selected when setting up the Transaction Type).

5. Complete the transaction in the Foreign Currency.

   • Note: If all the fields for Local and Foreign Currency are not shown, add them using the Field Chooser (*) in the first column.

How to Create Customer Forex Transactions

How to Create Forex Gains or Losses for Customers Automatically

1. Create a Customer Receipt.

2. If an amount is left over on either the payment or invoice, click the far-left column on the line item in the Outstanding (section) and select Record Forex Exchange Gain / Loss from the context menu.

3. Confirm on the pop-up that you want to record the Forex Gain or Loss.

4. Change the Status of the transaction to Complete.

5. Click Save (button).

6. Click Links (button - top row) and click the transaction starting with CFX to open the forex transaction.

7. Change the Status of the Forex Transaction to Complete

8. Click Save (button).

How to Create Forex Gains or Losses for Customers Manually

1. Navigate to the Main Menu > Accounting > Ledger.

2. Click the arrow on the New (button) > Customer Transactions > Customer Forex Gain (CFX+) or Customer Forex Loss (CFX-).

3. Customer = Select the Customer Account from the dropdown list.

4. Amount = Enter the Amount.

5. Select No VAT.

6. Allocate the amount to any Outstanding Invoices, Credit Notes or Overpayments.

7. Change the Status of the transaction to Complete.

8. Click Save (button).

How to Create Supplier Forex Transactions

How to Create Forex Gains or Losses for Suppliers Automatically

1. Create a Supplier Payment using the Ledger.

2. If an amount is left over on either the payment or invoice, select the far-left column on the line item in the Outstanding (section) and select Record Forex Exchange Gain / Loss.

3. Confirm on the pop-up that you want to record the Forex Gain or Loss.

4. Change the Status of the transaction to Complete.

5. Click Save (button).

6. Click Links (button - top row) and click the transaction starting with SFX to open the forex transaction.

7. Change the Status of the Forex Transaction to Complete.

8. Click Save (button).

How to Create Forex Gains or Losses for Suppliers Manually

1. Navigate to the Main Menu > Accounting > Ledger.

2. Select New (button) > Supplier Transactions > Supplier Forex Gain (SFX+) or Supplier Forex Loss (SFX-).

3. Supplier = Select the Supplier Account from the dropdown list.

4. Amount = Enter the Amount.

5. Select No VAT.

6. Allocate the amount to any Outstanding Invoices, Debit Notes or Overpayments.

7. Change the Status of the transaction to Complete.

8. Click Save (button).

Related Topics

• Reference: Multi-Currency

• Setup: Multi-Currency

• Tutorials: Supplier Payments