I recently went on a holiday in a place where I had to use a different currency. Can someone help me sort out how I would indicate in Manager that I bought US money with Canadian, and then how to enter transactions in US dollars during our stay there? I’m hoping this is possible…
Foreign currencies (different from your base currency) apply to customers, suppliers, employees, and cash accounts. If you don’t have a USD cash account, you didn’t spend USD. You spent CAD that you happened to process through the USD you bought. The headache of setting up everyone you bought from in USD (and probably will never buy from again) isn’t worth it.
Convert the transactions at the rate you got when you exchanged money. Enter them in CAD. If you made credit card purchases, wait until the credit card processor posts them in CAD and enter those amounts.
Thank you, Tut, I’ll do that.