FX Transactions

You can make Foreign Exchange (FX) transactions within the Cash Reconciliation module. This allows you to easily manage multi-currency transfers, ensuring that your transactions are accurately recorded and matched to your accounting entries.

To Make a FX Transaction:

1. Go to Cash Reconciliation.

2. Select the bank transaction of your preference.

3. Then, click Transfer.

   
4. Select the corresponding account.

   
5. Select Create Multi Currency Transfer and Match.

   
6. A Journal Entry page will appear, where you will fill the information:

   • Name: Enter a descriptive name for the entry (e.g., "Year-End Adjustment").

   • Date: Enter the date of your entry (e.g., 12/23/2024).

   • Reversal Date (optional): Enter a reversal date if applicable (e.g., MM/DD/YYYY).

   • Attachment URL (optional): Paste any relevant links or documents.

   • Customer/Vendor (optional): Select the customer or vendor from the dropdown list, if applicable.

7. Enter financial details:

   • Account: Select the relevant account for the transaction from the dropdown menu.

   • Debit/Credit: Enter a debit or credit value in the corresponding field (e.g., $5,000.00).

     Note:

     Debit and Credit must be equal for the entry to balance.

   • (Optional) Description: Provide a brief explanation of the transaction (e.g., "Adjusting Q4 Revenue").

     • Department: Select the department related to the transaction from the dropdown.

   • If you need to enter more accounts, click Add New Line and repeat the previous steps (Account, Debit, Credit, Description, Department).

     Note:

     Ensure to review the entered details to ensure accuracy before proceeding to the next step.

8. Select Create and Match to complete the process.

9. Go to Matched tab to see your FX Transaction.