Until the end of 2016 we booked in U$. But from 1/1/2017 we have decided to continue in local currency (SRD). What procedure we have to follow. Or do we have to make a new company, starting with the figures recalculatend into local currency. Is this possible by making one journal entry for all the opening balances?
When you change base currency, it affects all records in Manager from your first use. So you will need to start a fresh set of accounts. You will not be able to make one journal entry. That is because you cannot enter even a single starting balance by journal entry. You will need to set starting balances for all accounts individually when you create the chart of accounts.
That’s bad news-L For all the invoices are in U$. So if customers pay, the debitor account will diminish in U$, even as the account itself is booked in SRD. That means that we have to make new invoices too?. There isn’t any tool to recalculate all figures by an exchange rate?
And all this trouble because the local government has decided that trading in foreign currency is forbidden, pffff
The only invoices that must be dealt with are those that are currently unpaid, because those are the only ones that affect Accounts receivable.
I have no idea what transition procedures the government has dictated. Surely there must be allowances of some sort for a conversion process. Remember that bank accounts, customers, suppliers, and transactions can be denominated in multiple currencies in Manager. My answer was confined to the question you asked in your first post about converting your base currency and entering opening balances.