Record the currency settings for an administration

In the administration(s), set up the changeability of current rates and the accounts on which exchange rate differences in case of revaluations are entered.

To record the currency settings for an administration:

1. Go to: Financial / Management / Administration settings.
2. Go to the tab: Currency.
3. Select the Allow zero amounts check box if you want to be able to enter zero as an amount in the currency.
4. Select the Change exchange rates allowed in entries check box if you still want to be able to change the current rates once they have been entered.
5. In Exchange rate profit/loss journal, select the journal for the journal entries generated during currency revaluation.

   This journal must be a journal of the memo type.

6. Go to the tab: Exchange rate.
7. Select the accounts for exchange rate differences that originate with the write-off of outstanding items in foreign currencies.
8. Click on: OK.