Currency - Bank Account
  • jamesc323
    Posts:21
    Joined:Thu Jul 22, 2010 9:43 pm
    Currency - Bank Account

    by jamesc323 » Tue Apr 02, 2013 3:35 pm

    Hi

    If the currency of a bank account is set to a currency other than AUD, will all transactions then work with the set currency?

    Looking at setting up a company which operates in a different currency rather than AUD.

    Thanks
    James
  • COBS Tech Support
    Posts:683
    Joined:Fri Sep 09, 2005 8:23 am

    by COBS Tech Support » Wed Apr 03, 2013 1:53 pm

    If your entire company is in a different currency, such as USD, then you shouldn't assign a currency code to any of its bank accounts.

    Only assign a currency code to a bank account if it is in fact a foreign currency bank account relative to the base currency of the company.

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