Multiple Currencies

A general journal line can contain amounts in different currencies.

Maconomy converts these amounts automatically, using the exchange rate that is valid on the posting date.

If the entry is a customer entry, Maconomy uses the exchange rate table for sales.

If the entry is a vendor entry, Maconomy uses the exchange rate table for purchases

If the entry is a G/L entry, Maconomy uses:

• The exchange rate table for purchases if the balance on the specified account is zero or in debit.
• The exchange rate table for sales if the balance on the specified account is in credit.

If the entry is a job entry—the Job No. field in the Entries sub-tab has a value—and the Account No. field does not have a value, Maconomy checks whether fixed exchange rate information has been specified for the job in the Job Price Information workspace in the Job Cost module.

If this is the case, and you did not enable the Fixed exchange rates in budgets only system parameter, Maconomy converts the currency according to the fixed exchange rate information specified in the Job Price Information workspace.

If the entry is a job entry with fixed exchange rates, Maconomy uses the specified exchange rate for the job.

When working with multiple currencies, exchange rate variances may occur. Maconomy creates separate posts for the following:

• Invoice
• Payment
• Exchange Gain or Loss
• Balancing entry