Example

The company currency is USD (United States dollars). You make an entry in CAD (Canadian dollars) on a ledger account, but the balance on the account is calculated in USD. The CAD amount is converted using the exchange rate for CAD that applies to the current date, as set up in the form.

If at a later date the exchange rate changes, and you want the balance on the account updated to reflect the new exchange rate, you can select this check box and run the periodic job. The job updates the balance of the account using the current exchange rate to calculate the value of the CAD transaction.

Tip Tip

By setting up a currency to be included on the tab in the form, you can quickly see the current balance of an account with foreign currency transactions on a specified date by clicking Currencyin the status bar.

Alternatively, you can view balances in foreign currencies in general ledger accounts by clicking in the form, and then clicking .


See Also