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Cash account set to Multi-currency, any impact?

Hi,

Just want to know if the cash account's currency was set to SGD for example and there are lots of transaction already. Subsequently, the account currency is set to multi-currency. Any impact on reporting or accounting point of views? Kindly advise if you know, thanks.

Regards,

MH

replied

Hi,

If you enter multi-currency in the Currency field, you can post line

items to this account in any currency. The system, however, manages

the account balance only in the local and system currencies.

In other words, it does not manage the balance in the

currencies in which the items were entered. This makes it difficult to

reconcile the account with an external statements if required. You should,

therefore, try to avoid managing an account in multiple currencies if at

all possible.

Please also note that this change will be irrevrsible. An account can be changed from

a single currency account to multi currency account, but it cannot be changed from

multi currency account to single currency.

Regards,

Preety Goel

SAP Business one Forums Team

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