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Foreign Currency Bank Accounts

Foreign Currency Bank Accounts​

Setting up all accounts at the beginning and having all details to hand (such as consolidation account number, account group, and so on) will save time when posting transactions later. Editing account details to add extra information at a later date is extremely time-consuming.

To set up a Foreign Currency Bank Account:

  1. Select Accounts in the Folders List (left of screen)

  2. Select New in menu bar (at top of screen) and an Add New Ledger Account screen appears:

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Image Description

The "Add New Ledger Account" screen with navigation tabs on the left: Account Details, Balances & Budgets, Graphs, Transaction History, Orders, and Notes. The "Account Details" tab is selected, showing the Details section with fields for Account Type (set to "Active Account"), Account Title, Account Number, Account Group (set to "Money/Current/Bank Accounts"), Consolidation Account, and External Code. On the right side is a "Bank Information" section with fields for BSB Number, Account Number, Country/Currency (set to "Australia"), and Valuation Method (set to "At Bank Buying Rate"). Below is a field labeled "In the Cashflow Forecast" with a "Get E-mail Plan" button. The toolbar at the top shows Save & New, Save & Close, Copy, Paste, Print, Send To, and Attachments buttons.

  1. Add New Ledger Account

The New Ledger Account screen contains the following sections: