Post a financial entry in a currency

You can post entries in a foreign currency. You can enter the invoice in the currency that is on the received invoice and Profit automatically converts the item to the administration currency for you. For the conversion, Profit takes into account the current rates and Profit can revalue all currencies with one single push of a button. This means you do not have to perform the calculations and entries yourself.

To post a financial entry in a currency:

1. Go to: Financial / Enter / Journal.
2. Check Financial year and Period. These are the financial year and the period to which you post the entry.
3. Select the correct journal.
4. Click on: Finish.
5. Select the correct entry layout for entries in a foreign currency if multiple entry layouts are available, for example Financial entries (Journal in currency) (Profit).
6. Complete the entry line(s).

   In Debit currency amount or Credit currency amount enter the invoice amount in the currency. Profit automatically converts the item to the administration currency for you and enters the resulting amount in Amount debit or Amount credit. For this conversion, Profit takes into account the current rates. The currency amount is converted to the base currency based on the rate and the currency code.

   When entering a sales invoice in a foreign currency, at the bottom of the entry layout you see the preferred currency code for the debtor and the current rate. The rate is the rate from the rate table that is valid on the entry date (not the voucher/invoice date). You can change this if it is allowed based on the Change exchange rates allowed in entriessetting. The currency fields are only accessible if Currency assignments has been set for the debtor. If a current rate is not available for the currency, the fixed exchange rate is used.

   When you post entries in a foreign currency to the bank journal, the currency code is fixed, but the exchange rate can be changed.

   When writing off (reconciling) outstanding items, any rate differences are processed automatically. An outstanding item can be paid in parts and different currencies. The difference between the amount to collect and the paid amount is entered on an account for exchange rate differences.

7. Click on: Finish.