Accounting > Foreign currencies

Mill7 supports foreign currencies. Currencies and exchange rates are entered in the maintenance menu.

Important concepts are:

Bookkeeping currency: the currency in which the books are kept.

Daybook currency: the currency in which a daybook is kept, all daybooks are in the same currency as the bookkeeping currency, with the exception of bank books.

Sub Bookkeeping currency: All accounts are entered in the bookkeeping currency, with the exception of debtors or creditors accounts.

The currency of journal entries cannot be changed: in the bank book they are the daybook currency of that daybook. In other daybooks they are the bookkeeping currency, with the exception of a debtor or creditor journal entry: then the journal entry is in the currency of the debtor or creditor.

By pressing Ctrl+K at the amount of the journal entry, an extra currency amount and exchange rate can be entered. This extra info can be displayed in reports.