Defining an account currency for a specific posting account

Use this procedure to define an account currency for a single account within an accounting unit.

Note: The account currency that you select for a posting account overrides any currency selection in the corresponding chart of account detail account as well as any currency defaulted from the accounting unit the account is associated with.
  1. Access Accounting Units-Accounts (GL20.1) and inquire on the company and posting accounting unit for which you want to define a posting account currency.
  2. Choose the Accounts link to open Posting Accounts (GL20.2).
  3. For each account that you want to assign a currency to, select the More link to open Accounts Options (GL20.3).
  4. Choose the Currency tab to define the account currency options. Use these guidelines to specify the field values:
    Account Currency

    Select the currency you want to assign to this account.

    Note: The account currency defaults from the accounting unit. If no account currency has been defined on Accounting Units-Accounts (GL20.1), then the default setting is the company base currency.
    Currency Control

    If you select Yes in the Currency Control field, then transactions can be specified in the account currency only. If you select No, then transactions in other currencies can be converted to the account currency and posted to the account.

    Revalue

    Select Yes in the Revalue field to have transactions in this account revalued when using Currency Revaluation (GL191). See Revaluing currency.

    Translation Code

    This field identifies the translation code to use to get the translation rate used to calculate the account balance when translating to another company.