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Profit & Loss Statement in the same currency?

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Profit & Loss Statement in the same currency?
02-09-2012, 07:13 PM,
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phil Offline
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RE: Profit & Loss Statement in the same currency?
You then set the company home currency in

Main Menu -> Company Preferences to INR

Yes of course you can purchase in any currency - the rates need to be set up in Main Menu -> Setup ->Currencies and these purchases are converted to the local currency for the purposes of the accounting
the entries when you purchase stock and receive the stock is

DR - stock - we have goods on hand
CR - goods received suspense - we owe a supplier

note nothing is posted to the profit and loss account

Phil Daintree
webERP Admin
Logic Works Ltd
http://www.logicworks.co.nz
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RE: Profit & Loss Statement in the same currency? - by phil - 02-09-2012, 07:13 PM

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