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About foreign currency transactions
You can use the General ledger workspace to record batches of journal entries in foreign
currencies.
All the transactions in one batch must use the same currency, but not
necessarily the base currency.
If at least one of the accounts used in a batch is denominated to a specific currency, only this currency can be used as a batch currency.
The default exchange rate type is defined for all the foreign currencies in the Currency management preferences (CM101000) window.
Exchange rates for
all rate types are maintained in the system with their history.
Rounding gains and losses
Once you enter your journal transactions with debit and credit amounts in the foreign currency, the system automatically converts the amounts into the base currency based on the default or the specified exchange rate. The base currency generally has fewer decimal places than the exchange rate, which has six decimal places.
Thus, the debit and credit amounts calculated in the base currency may differ by a very small amount, causing the batch to not balance.
In this case, the difference is recorded to one of the accounts specified for each currency, Rounding gain account or Rounding loss account, and the corresponding transaction is automatically added to the batch.
Related concepts
Related reference
