My compnay dealing with 3 currencies INR, USD, CAD Company currency usd. I have one bank account "bank-123456", but i have make 3 currencies transactions with this one bank account. As per my knowledge on openerp, i have to create three bank journals for this one bank account. Those are 1. bank(usd), 2. bank(INR), 3. bank(cad). I have little confussion on giving default debit and default credit account for each journal. I am creating 3 accounts for one bank account 1. bank account (USD), 2. bank account (INR) 3. bank account (CAD). Creating journals like this 1. bank(usd): debit and credit account= bank account(usd), 2. bank(INR): debit and credit account= bank account(INR), 3. bank(cad): debit and credit account= bank account(CAD). What my question is, is it mandatory to create 3 accounts for one bank account to make transactions in 3 currencies? Why can't with one account which is in Company currency.
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Not necessarily...
But if you want to do transactions (i.e payments/receipts) in diffferent currency other than company, then yes you have to create different accounts & journals for each.... Otherwise you need not worry about it...
For instance: say US dollars, then there might exist a scenario of paying/receiving money in US dollars, so naturally you must have account in US dollar to deal with this...
Refer this: Accounting
Thank you deep, It's helping allot. Can you give answer for other questions of me?. I want to change the profit and loss query, but i unable to find the where that query is?
Hi deep, Please give me a reply for this question. https://www.odoo.com/forum/help-1/question/how-can-i-toggle-a-button-based-on-field-value-62724
https://www.odoo.com/forum/help-1/question/how-can-i-use-multiple-taxes-in-one-transaction-in-openerp-7-62966