accpac simply accounting 9.0 Benutzerhandbuch

Part 1:  Setting Up 

10–2    Simply Accounting 

 

SW9UG 6-11.doc, printed on 1/9/02, at 11:54 AM. Last saved on 1/9/02 11:28 AM. 

 

When you purchase or sell an item, payment is often made or 
received at some time in the future. If the item’s price is in a 
foreign currency, the exchange rate may change before payment. 
This means that the equivalent price in your home currency also 
changes. Sometimes this works in your favour, sometimes not.  

For example, you purchase an item from Britain for £100 
(100 British pounds). On the day of the purchase, the exchange  
rate is 1.45, so the price in dollars is $145. Some time later, when 
you are ready to pay the vendor’s invoice, the exchange rate has 
changed, and the pound is worth $1.40. You pay your vendor 
£100 (worth $140). You have gained $5.  

Simply Accounting keeps track of gains and losses caused by 
exchange-rate changes in the Currency Exchange and Rounding 
account. This is usually in the expense section of your chart of 
accounts, but your accountant may suggest a different 
classification. You can see these amounts on the Realized 
Exchange Gain/Loss report (on the Reports menu, under 
Financials). 

The final price of an item paid for in foreign currency may 
change due to rounding that occurs when the exchange rate is 
calculated.  

For example, if you purchase two items and pay in a foreign 
currency, the entries might appear as follows. The exchange rate 
in this example is 1.5997033. 

† Add exchange acct. 
† Set up currencies 
† Add bank accounts 
† Decide foreign pricing 
† Add foreign prices 
† Set vendors/customers