Once you've set up your currencies, you can begin entering transactions for them. Entering these transactions is easy -- they're just like standard transactions in British pounds.
Multicurrency transactions can be recorded in the following areas in Accounting Plus:
Multicurrency transactions can be viewed throughout Accounting Plus. If you want to change the exchange rate for one transaction only, click the Exchange Rate button to display the Exchange Rate window.
Because currencies continually fluctuate in value, you'll want to update your currency records periodically. If you record many transactions in other currencies, you may want to update the exchange rates for your currency records often -- every week, or even more frequently, depending upon the volatility of the currency and your desire for precision. These exchange rates will appear as default entries on your Accounting Plus transactions. As with all default entries in Accounting Plus, you can change the exchange rate on individual transactions. Likewise, when you reconcile your bank accounts, you can update the exchange rates assigned to your cheques and deposits to reflect the rate used by your bank at the time the cheques were cleared or the deposits were made.