That Currency loss account in SAP Business One recognises losses from Exchange rate fluctuations for foreign currency transactions. The Versino Financial Suite supports this process by automatically recognising exchange rate differences and posting them to the currency loss account accordingly. The currency loss account provides a transparent presentation of the effects of currency fluctuations on the company's finances.
Functions and use
- PurposeRecognition of losses if the exchange rate at the time of payment is less favourable than at the time of invoicing.
- automationExchange rate differences are recognised in the poll of G/L accounts in foreign currency are posted automatically.
- Account findingThe account for exchange rate losses is defined in the account determination settings.
Characteristics
- TypeExpense account in the chart of accounts.
- SettingsIn the "Exchange rate differences" window, accounts, key dates and other parameters can be defined for the valuation.
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