Currencies

Revalue a month's end

1. Choose the unit at the top, if you can open more than one book.
2. Choose the month in Revalue at the end of: one whose end has come.
3. Each currency shows the month's closing rate, or none. Type one where it is missing — what 1 of one currency is in the other; with the organization's own currency, what 1 of it is in the other — and press Preview.
4. Read the lines: each invoice, bill, supplier credit and bank account in another currency — fund by fund, where one spans several — what the book carries it at, what it is worth at the closing rate, and the difference.
5. Press Post the revaluation, and confirm.

Then: One entry posts on the month's last day: each receivable, payable and bank account up or down by its difference, and the other side to exchange gains and losses — a bill worth more at the closing rate is a loss. It reverses itself on the 1st, so the next month starts from what each was recorded at. Until then the receivables and payables agings show it on a line of its own, so they still add up. The month is listed under Revaluations made.

Rather not? Press Keep as the month's rates to keep the rates typed for the month, without posting: new documents in that currency default to them, and the combined statements read them.

Who: Posting needs Record money at the unit. Keeping a month's rates is for whoever keeps the organization's chart: the top unit's finance keeper, an Owner or an Admin.

Atlas Trading keeps its book in US dollars. At the end of October, Lumière SARL still owes EUR 600.00, carried at USD 660.00. At October's closing rate of 1 EUR = 1.15 USD it is worth USD 690.00: Ben posts a gain of USD 30.00, and on November 1 it reverses itself.

Move money between currencies

1. Press Move money between currencies.
2. Choose Which way: into the account in another currency, or back into the book's.
3. Choose the two accounts, and type what left one and what reached the other, each as its own statement shows it.
4. Choose the day, and press Record it.

Then: One entry posts. Into the other currency, the account takes what the money cost. Back, it gives up its share of what it holds at cost — from each fund that holds some there, at that fund's own cost — and what the money came to beside that is a gain or loss, in the book at once. Each statement's line then matches its side.

Who: Record money at the unit.

Atlas buys EUR 200.00 for USD 230.00 into its euro account. Later it sells EUR 500.00 back for USD 575.00; the account held them at USD 563.00, so USD 12.00 is a gain.

Choose where exchange gains and losses go

1. Under Exchange gains and losses, choose an income or spending account.
2. Press Save.

Then: Every payment, credit, transfer and revaluation in another currency posts its difference there from now on.

Rather not? Leave it unchosen: the first difference adds Exchange gains and losses to the chart, under Other expenses, and chooses it.

Who: Whoever keeps the organization's chart of accounts: the top unit's finance keeper, an Owner or an Admin.