Cross Rates_GL

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If you have several foreign currencies bank account and you need to do inter-bank transfer.

Assuming you want to transfer USD30,000 to the Euro bank account. Your functional currency is SGD.

On paper, you need to translate the USD30,000 to SGD using the prevailing rate of USD vs SGD exchange rate. With the SGD converted amount, to translate into EURO dollar using the prevailing rate of SGD vs EUR exchange rate.

At [A/c Entry] , click [Payment]



Click [Add GL],



Enter all relevant information, click on the Cross rate button.



You can still change the Euro dollar exchange rate to tally with the Euro dollar equivalent you received in your EURO bank account

The Euro amount will be calculated to tally with the USD 30,000 equivalent. Click Save to confirm this transaction.


At GL ledger, the bank ledger will appear as below


 Next, go to the topic, Depreciation


Related Topics

Cross Rate - Receipt


Cross Rate - Payment to supplier


Tax code Out-of-Scope Purchase



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