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Transaction or accounting currency?

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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?

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    BillurSamdancioglu Profile Picture
    BillurSamdancioglu 16,455 Most Valuable Professional on at
    RE: Transaction or accounting currency?

    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.

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    Alireza Eshaghzadeh Profile Picture
    Alireza Eshaghzadeh 13,539 Super User 2025 Season 1 on at
    RE: 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.

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