CHAPTER 9Currencies
No matter how you slice it, foreign currency accounting is just plain complicated. In EBS, there are several tools that can comply with these guidelines and regulations, but it still requires an understanding of the basic rules to use them. This book was not created to explain accounting concepts nor to analyze how these fit into complex regulations, but you must understand some of the basics for currencies prior to understanding the setups in EBS.
Types of Currency Transactions
EBS, like most comprehensive accounting systems, handles currencies at three levels. When a Ledger is set up, it is assigned a functional currency. All transactions entered in a currency other than the functional currency are foreign currency transactions. ...
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