The Multiple Currency Switch allows the following accounts to be set up as being held in different currencies from the home currency:
- Customer Accounts
- Suppliers Accounts
- Bank Accounts
Additionally, Stock Prices can be created in different currencies. The Nominal Ledger values are always held in the home currency. Reports can be printed in the home currency or the currency of the relevant accounts. Exchange rates can be set per month and a revaluation wizard is available which will revalue accounts at the latest exchange rate.
It is highly recommended to add in Multiple Debtor Control Accounts and Multiple Creditor Control Accounts Switches so that separate Control Accounts for Debtors and Creditors can be set per currency to provide easier reconciliations.