> Pretty major thing. Not quite as simple as it looks on the surface. The
> major concept that throws a wrench into the works is the varying
conversion
> rates. Pretty simple to flip-flop transactions at the current exchange
> rate. It gets real sticky at the G/L level where for any given
transaction
> you would have gains or losses due to currency fluctuations. Your $1000
> booked invoice only nets you the equivalent of $950 when paid. The
other
> little pain is showing old transactions. What rate do you use? It
gets
> to be quite interesting.
yes, that can trip you up. The standard way of dealing with this is to have
a currency revaluation routine that posts currency differences to
the general ledger currency control account for that currency
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