Monday, June 27, 2011

Handling Foreign Currency

1. Sometimes transactions occur in foreign currency. We record the double entry amounts in local currency (after conversion) but we still interested to know the transaction history of amounts in the foreign currency.

2. Use a dedicated column in data entry sheet to record the amounts in the foreign currency.

3. To get the sum of all amounts of foreign currency for a particular Accounts, use SUMIF function.

4. To view rows of transaction for a particular Accounts having foreign currency, follow the following steps. 

4.1 Make a copy of the data entry sheet.
4.2 Sort the data according to Accounts, then by Date.
4.3 Put the data in Filtering mode.
4.4 Select the Accouns that we interested.

5. We can delete the copy sheet once done because we can easily rebuild.

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