Accounts Payable
The accounts payable module for multi-currency is simple in design as to the general ledger postings. When posting in non-base currencies, there are three types of postings that use the current system exchange rate to calculate postings to the general ledger.
Assumption: all checks and wire transfers are posted to actual non-base currency banks.
Payable Postings : When the payable is posted in a non-base currency, the current system exchange rate is used to post the amount in the base currency to the general ledger.
Journal Entries : When journal entries are made to a non-base currency, the current system exchange rate is used to post the amount in the base currency to the general ledger.
Currency Gain/Loss Adjustment : This posting routine is used to update the general ledger base currency value for non-base banks and uses the currency system exchange rate to post a Gain or Loss for non-base currency banks.