User Guide

Foreign Currencies
118 Simply Accounting
Swc90wb.doc, printed on 1/3/02, at 11:14 AM. Last saved on 1/3/02 10:54 AM.
ACCPAC INTERNATIONAL, INC. Confidential
As Simply Accounting converts the transactions to the home
currency, it rounds each line individually. However, as shown in
the example above, this can result in small differences in the
totals. Such differences are recorded in the Currency Exchange
and Rounding account, as shown below.
Account Foreign Currency
Amount
Debits Credits
1540
Hardware
534.99 855.83
1560 Lumber 35.00 55.99
2220 Accounts
Payable
569.99 911.81
5650 Currency
Exchange and
Rounding
______ 0.01
Total: 911.82 911.82
1. In the Home window, open the Accounts window.
Create
2. Click the Create button on the toolbar, and enter the
following account:
On the Account tab
Account: 5650 Currency Exchange & Rounding
Type: Group Account
On the Class Options
tab
Account Class: Expense
3. Click the Save button, and close the record and account
windows.
Part 2: Setting Up the Foreign Currency
1. In the Home window, from the Setup menu, choose System
Settings, and then Currencies.
2. Check the Allow Transactions In A Foreign Currency box.
3. In the Track Exchange And Rounding Differences In field,
select 5650 Currency Exchange & Rounding.