Multi currency functionality allows user to maintain price list and making transaction in multiple currency.
A user can define default currency for each company in ERPNext application. For example, you could have 3 companies in your single ERPNext account with different default currency.
Multi-currency transactions possible in transactions:
1. Selling : Quotation, sales order
2. Purchase: Purchase order
3. Stock: delivery note, purchase receipt
4, Accounts: Sales invoice, purchase invoice, journal voucher
When you are making transaction for Test company then INR will be fetched as default with conversion factor as 1.
If i want to make an invoice in currency other than my default currency, then i will select that currency and define conversion rate between select and my default currency.
After selecting currency and mentioning conversion rate, one can select items and put ref rate for respective items.
In items table below you will find columns with duplicate labels like:
Ref rate (for rate in def. currency)
Ref rate* (for rate other then def. currency)
Basic rate (basic rate in def. currency)
Basic rate* (basic rate in other currency selected)
Amount (amount in def. currency)
Amount* (amount in other currency selected)
Note: No columns of other currency will be editable except basic rate* where user can put discounted amount and discount rate will be calculated automatically.
After saving invoice that's how your transaction will look like:
All ledger posting will be done in default currencies. For example, if you have a bank account of currency USD, even if you do invoicing in INR or any other currency but payment entry would be done in default currency only. Bank ledger will show balance in USD which is default currency for that company.
A user can define default currency for each company in ERPNext application. For example, you could have 3 companies in your single ERPNext account with different default currency.
Multi-currency transactions possible in transactions:
1. Selling : Quotation, sales order
2. Purchase: Purchase order
3. Stock: delivery note, purchase receipt
4, Accounts: Sales invoice, purchase invoice, journal voucher
When you are making transaction for Test company then INR will be fetched as default with conversion factor as 1.
If i want to make an invoice in currency other than my default currency, then i will select that currency and define conversion rate between select and my default currency.
After selecting currency and mentioning conversion rate, one can select items and put ref rate for respective items.
In items table below you will find columns with duplicate labels like:
Ref rate (for rate in def. currency)
Ref rate* (for rate other then def. currency)
Basic rate (basic rate in def. currency)
Basic rate* (basic rate in other currency selected)
Amount (amount in def. currency)
Amount* (amount in other currency selected)
Note: No columns of other currency will be editable except basic rate* where user can put discounted amount and discount rate will be calculated automatically.
After saving invoice that's how your transaction will look like:
All ledger posting will be done in default currencies. For example, if you have a bank account of currency USD, even if you do invoicing in INR or any other currency but payment entry would be done in default currency only. Bank ledger will show balance in USD which is default currency for that company.
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