AccountingSuite offers support for multi-currency functionality, which must be enabled in the General Settings. It is essential to ensure that all required Currencies are properly added to the Currencies list, and that their exchange rates are regularly updated to reflect current values accurately. The system allows users to change the currency on any document, providing flexibility for transactions conducted in different currencies.

However, it is important to understand how income and expense items are handled in journal vouchers when multiple currencies are involved.

It is not possible to recognize income and expense items in multiple currencies within a single journal voucher. While balance sheet accounts can be maintained and tracked in two or more currencies simultaneously, income and expense accounts are always recorded and reported in the system’s default currency.

For example, when a Bill is entered with an expense purchase in a foreign currency such as USD, the expense is recognized in the default system currency (e.g., AED). The liability for the transaction, however, can be tracked in both the default currency and the foreign currency, allowing dual currency management at the balance sheet level. The same principle applies to income transactions, such as sales invoices, where income recorded in a foreign currency will be converted and recognized in the default currency.

In summary, income and expense items are recalculated once and recorded only in the default currency. This behavior ensures consistent financial reporting and simplifies profit and loss calculations, whereas multi-currency tracking is reserved for balance sheet items.