Function of currency exchange in Multi-Book Ledger

A ledger company inherits the currency exchange setup of the General Ledger company it is associated with.

Ledger companies use the same detail and posting accounts as their General Ledger counterpart, but keep their journal entries in separate ledgers. A ledger company is associated with a General Ledger company by attaching the ledger to the detail or posting accounts for which the ledger company will have posting entries. Any account that is flagged for revaluation in General Ledger and also associated with a ledger, will also be revalued in Multi-Book Ledger.

When you use currency exchange for a ledger company, you must attach the company's associated ledger to the currency unrealized gain and loss accounts. Then, gains and losses resulting from the Multi-Book Ledger revaluation process can be posted to the company ledger.