International transactions > Miscellaneous transactions > Entering foreign-currency transactions in a local account
Entering foreign-currency transactions in a local account
You can enter foreign-currency transactions in a local-currency account. For example, you can accept a cheque from a customer in euros and bank it in a dollar bank account.
You have received a cheque from your customer, Donelli Paper, for 200 Euros against an outstanding invoice, and you want to bank it in your local-currency account. Let’s also assume the exchange rate has changed from 1.84 to 1.87 since you made the original sale.
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Type or select the customer in the Customer field. Details of Donelli Paper’s purchase appears in the window.
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In the Transaction Exchange Rate field, change the rate from 1.84 to 1.87.
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The Out of Balance field displays EUR0.00. The Gain/Loss field shows the gain or loss (in local currency) as a result of the new exchange rate. This amount is posted to a currency gain/loss account.
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Click Record.
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