Hi, we report in GBP. If in our UK entity we receive a EUR purchase invoice that needs to be prepaid for example, should I move this expense to the balance sheet in EUR or GBP i.e. transaction or accounting currency?
Hi tobes2021,
As you describe that the entity is in UK and you need to have GBP as reporting currency while you can also use it as accounting currency. Then, you need to add a exchange rate between GBP and EUR to calculate the amount in GBP for EUR invoices.
Hi,
Transactions should always be posted on transaction currency.
System will change to accounting currency according to the exchange rates or the fixed exchange rate you fill.
Under review
Thank you for your reply! To ensure a great experience for everyone, your content is awaiting approval by our Community Managers. Please check back later.
As AI tools become more common, we’re introducing a Responsible AI Use…
We are honored to recognize Neeraj Kumar as our Community Spotlight honoree for…
These are the community rock stars!
Stay up to date on forum activity by subscribing.
Martin Dráb 683 Most Valuable Professional
André Arnaud de Cal... 563 Super User 2025 Season 2
Sohaib Cheema 398 User Group Leader
