is there option to maintain books of company in 2 currencies say AED as main currency and then USD as reporting currency.
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1. Create your Company that uses AED
2. Create a new EMPTY Company that uses USD
3. Verify exchange rates to convert AED to USD are available in the new Company.
4. Switch to the new Company and turn on your AED Company. All amounts will be converted into USD at the latest rate.
Hi Ray...thanks for response.
I want to keep both the company books active as I will enter transaction in AED on day to day basis and it should get converted to USD books on daily or monthly basis as balance.
Regards,
Chirag
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Hi, There is no default option for that, You can only view the report in the company currency.
The General Ledger report will show the amount in the secondary currency if the transaction in secondary currency.
thanks Waleed for response. What I am looking for is solution like same company have 2 books one is main currency AED and all the transactions reflecting in reporting currency in USD.
Example : Transaction in GBP will show GBP to AED in main ledger and GBP to USD in reporting ledger. This is common requirement for MNC as they maintain books in local currency and report to HQ in USD