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How can once make a journal entry in a secondary currency?

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Zahid Hakeem

I was previously using QBO, it just lets you select the currency before posting entries in a journal. My main currency is AED but I have a USD bank as well under the same company, and would like to post bank charges, etc in USD itself instead of AED in the journal.


I have tested through making journal first in Currency > USD but still shows AED when making posting an entry despite selecting relevant USD account.

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LUSO MBEWE

Did you find a solution to this facing the same issue?

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Cybrosys Techno Solutions Pvt.Ltd
Best Answer

Hi,

In Odoo, the company’s base currency (AED in your case) is always the main posting currency, but you can still record transactions in foreign currencies like USD by configuring your accounts and journals properly. Simply switching the currency field when creating a journal entry is not enough, because Odoo relies on the account and journal setup to decide how transactions are handled.

To make this work, you first need to enable multi-currency in the Accounting settings and activate USD alongside AED. Then, assign USD as the currency for your USD bank account in the Chart of Accounts, and also set the USD bank journal to work in USD. With this configuration, any transactions recorded against that bank will be entered in USD, and Odoo will automatically convert and store their equivalent value in AED using the defined exchange rates.

This approach ensures that you can log bank charges or payments directly in USD while maintaining accurate AED-based reporting. The key is that the currency must be tied to the bank account and journal, not just selected manually when posting an entry.

Hope it helps

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