Foreign Currency Bank

If you have a foreign currency account and if you want to manage your transactions in that currency, then you are welcome to use the Bank Foreign Currency feature in the application.

To enable the feature, go to Settings>>Accounting>>Financial Settings and check “Multiple Currency for Bank Accounts” and save the changes.

Then you can add your foreign currency bank from Accounts>>Accounting>>Bank Accounts.

While adding the bank details, you will have an option to choose another currency from the Currency field. So choose the currency (EUR for example), enter the as of date amount in that currency and save.

 So for any transactions made in that bank currency(EUR), the bank will show up as an option for payments.

Your bank statement shows the balance in both your base currency and foreign currency (EUR). You just need to check the box “Show in base”.

 

See also