Currency Processing

Transactions can be entered in either the functional currency(from a set of books) or in a foreign currency. GL automatically converts the amounts in foreign currency journals to functional currency equivalents using daily exchange rates. GL also saves maintains both of the amounts for all transactions.

GL provides three standard reports showing foreign currency exchange rates:

Daily Conversion Rates Listing. Lists daily rates for specific currency and accounting period.

Historical Rates Listing. Lists defined historical transaction rates and amounts.

Periodic Rates Listing. Lists defined exchange rates for any accounting period, including the period average and period end translation rates and revaluation rates.