I have been thinking about this and I am not sure how far you have gotten. You can define up to three currencies for use in LedgerSMB 1.1 (no limit in 1.2). When you enter an invoice you will have the option to add or change the foreign exchange rate. this will automatically post to the fx accounts.
I suppose you may have to make end of year adjustments but I am not sure. You will want to check with an accountant at year-end to make sure. Best Wishes, Chris Travers On 1/19/07, Ed W <[EMAIL PROTECTED]> wrote: > OK, so I have only sterling bank accounts, but I have an invoice from a > supplier in USD. I go to the bank and buy dollars using sterling and > then wire the money to the beneficiary > > ....Now how to best enter this into the accounts system > > I had previously been taking the rate that I got on my USD transaction > and converting the invoice into stering at this rate, but it's awkward > and error prone. I now want to use the accrual type system and an FX > account. > > So I enter in the invoices in USD. I then use the "payment" function to > pay the invoice in USD, which I believe will leave me with a calculated > GBP amount against my cash account. Now the remaining bit is how to > post the balancing item into an FX reserve account so that the correct > amount of GBP is shown...? > > Can anyone talk me through the best way to do this last step please? > > Cheers > > Ed W > > ------------------------------------------------------------------------- > Take Surveys. Earn Cash. Influence the Future of IT > Join SourceForge.net's Techsay panel and you'll get the chance to share your > opinions on IT & business topics through brief surveys - and earn cash > http://www.techsay.com/default.php?page=join.php&p=sourceforge&CID=DEVDEV > _______________________________________________ > Ledger-smb-users mailing list > [email protected] > https://lists.sourceforge.net/lists/listinfo/ledger-smb-users > ------------------------------------------------------------------------- Take Surveys. Earn Cash. Influence the Future of IT Join SourceForge.net's Techsay panel and you'll get the chance to share your opinions on IT & business topics through brief surveys - and earn cash http://www.techsay.com/default.php?page=join.php&p=sourceforge&CID=DEVDEV _______________________________________________ Ledger-smb-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/ledger-smb-users
