Multicurrency And FX

Acknowledgement: Shared by Peter Bamuhigire, techguypeter.com, +256 784 464178.

Use When

• A tenant books in one functional currency but invoices, pays, or receives in another currency.
• A group needs presentation currency reporting.
• Month-end FX revaluation is required.

Hard Rules

• MUST define one tenant functional currency.
• MUST store transaction currency and functional-currency equivalent on journal lines or linked valuation records.
• MUST not mix functional and presentation currency as if they are the same ledger amount.
• MUST revalue open monetary items at period end where required.
• MUST distinguish realised from unrealised forex gains/losses.

Currency Model