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no, take EUROS from the EURO check book and post EUROS to the home checkbook. Let the system convert when you look in the functional currency.
Setup the GL Accounts associated with each bank account to support all currencies. Then move EUR in account 3 to EUR in bank account 1 (the GBP account). As long as the conversion rates are current, it should work fine and show the appropriate balance in GBP. Same for USD.
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