Foreign Curreny Balance

shahidt

I want to use a GL Account as a Foreign Currency Account, where I want to deposit some amount in Dollars and pay for certain indirect expenses using the same. The basic idea is to know how much dollars do I have in my Cash box. Going further this needs to support other currencies as well, preferably in the same GL.

What is the best way in which I can do this. In our test environment I tried passing a Cash Payment Voucher using USD in th currency code. However, the transaction in the Chart of Accounts shows in LCY, and the Foreign Currency Balance report does not show any transaction. Is there anything addition I need to do to make this work?

jglathe

Hello shahidt,

NAV standard functionality has bank accounts which can be held in a different currency. The bank account card shows the balance in FCY, too. However this is only valid for one currency. if you post multiple currencies on the same bank account, this field won't show anything useful.

The GL account itself cannot hold the FCY balance, though. At least not without adding code. If you only want to use it for payments in FCY I would recommend to go with the bank account functionality.

with best regards

Jens