This process enables users to manage transactions in different currencies while ensuring that all data is accurately recorded in the organization’s base currency.
Process to Record a Bill in Foreign Currency
Follow these steps to create and post a bill with a foreign currency rate applied:
Go to Accounts Payable > Bills.
Select + Add Bill.
Select the relevant currency when entering the bill data.
To override the FX rate, click Edit Rate and input your desired FX rate.
Click Save.
The bill will display in the transaction currency, and all journal entries will be recorded automatically in the organization’s base currency based on the FX rate applied.
