Setting the currency rules for an account

When you define an account using Chart of Accounts (COA), you can alter some of the multi-currency processing rules that were established for the business unit, if required. For example, the business unit rule may allow mixed currency values to be entered on transactions, in Value 2, but you may wish to prevent this for a specific account.

Using Chart of Accounts (COA) you can set the following multi-currency processing options for an account:

• the transaction currency conversion control to allow transaction currency values to be entered, prevent them from being entered, or use the business unit default control. You cannot prevent this value being entered if the transaction currency is the pivot.
• the default transaction currency code which appears on Ledger Entry forms.
• the reporting currency control to allow or prevent reporting currency values being held.
• Default values for the fourth and fifth currency codes.
• Currency Codes which are disallowed for the fourth and fifth currency (for use where the fourth and fifth values are defined as variable currencies).
• the revaluation option to optionally exclude the account from the revaluation process.