Capital Account in foreign currency

1

My base currency set is USD.
My capital accounts are also in USD, but I have a new Capital account that needs to be in EURO.
Can I create a Capital Account in Euro?

If not, is there any other way to accomodate it?

Thanks

2

Capital accounts are possible only in the base currency. There is no alternative.

3

Even im looking for capital account in foreign currency

4

You can have Capital in any currency, deposit personal funds into USD business bank account and deposit personal funds into EURO business bank account, both for the one business, but within Manager’s Balance Sheet those equity capital values can only be shown in terms of the base currency.

0000000 Bug 1

5

But, there is no option to select currency for capital account.

Capital account is base currency for me.

if i withdraw money from base currency nigeria bank account to capital account, it just transfers in Nigerian base currency.
but
if i withdraw money from Euro currency bank account to capital account, now it shows the additional options in the payment form to give exchange rate

6

Correct, the bank account has the currency option and as stated above “within Manager’s Balance Sheet those equity capital values can only be shown in terms of the base currency”.

When you look at the Summary tab Balance Sheet bank accounts you will see that they are also shown in base currency, you only see bank account currencies under the Bank Accounts tab.

7

Sorry @Brucanna, there must be some misunderstand happened,

But my question is, if my base currency is Naira (Nigeria) then how can i transfer Nigerian currency bank account to capital account (in USA) in USD .

8

Ok,

  1. do you want to just transfer funds between the banks, or
  2. do you want to transfer funds between the banks as well as transfer amounts between the equity capital accounts ?
9

i want to do this.
My bank accounts are base currency
My capital account is not base currency but not option to select foreign currency.

Any possible way to do transaction from base currency bank to foreign currency capital account?

10

You do a Spend Money from the base currency bank account selecting local capital account
Then you do a Receive Money into the USD bank account selecting foreign capital account.

But as previously stated, both capital accounts will appear as base currency.
The foreign capital account is NOT a currency account, it represents the base currency valuation of the foreign capital.

1 Like
11

Thank you , i understood :grin: