Cash Receipts Journal - Multi-Currency Processing Info
If Multi-Currency processing is being used, the Cash Receipts Journal and Update will use the applicable retention receivable G/L account when a cash receipt is processed for an invoice against a local currency. The Cash Receipts Journal will store the foreign exchange rate to include gain or loss due to currency fluctuations, and translate amounts to the reporting currency as of the G/L date of the particular cash receipt record. Gain/loss calculations will be based upon the G/L date of the invoice and the exchange rate in effect as of that date for the customer currency. The report will display debits or credits in the reporting currency, and include any currency gains or losses when applicable.