Hi All does anybody know which is the best way to enter foreign currancy on Sage, the majority of trading is in sterling, there are many trips to other countries and the foreign currancy is put in the petty cash tin till the next trip, I want to set up another petty cash account for this currancy. Am I best just to take the exchange rate at the time and record it in sterling or is there another way???
I would like to set the currancy account in the foreign currancy but my difficulty is transfering the money from the sterling account as sterling & in the foreign account as Krones any suggestions??
It all depends on what version of Sage you are using. Some allow you to set up foreign currencies - I have AUD, US$ and Euro on my current one and you trade in that currency and can transfer if necessary. You enter the exchange rate as necessary and can revalue the account as and when. The balance is shown in sterling as well as the currency in question.
I'm working on Sage 2009 V.15 how do I show the currency? I've transferred the amount in sterling from the current account, I would like to see the foreign currency in Krones as some of the money does get returned and left in the petty cash tin until the next trip.
I'm on version 16. When you go to set up a new bank account, it may allow you to set up one in a different currency.
You can also set up customers and suppliers in different currencies too.
When you transfer funds from that account to the £ a/c, you can specify the exhcnage rate at that time and it does it all for you. ON the bank page, it will show the values on £ and whatever currency you have in 2 columns.
