If you're using the Multicurrency feature to conduct business with a customer or vendor in a foreign currency, you can assign that currency to the customer or vendor card. The currency field is located on the Profile tab of the Card Information window. Be careful in your selection, however, because once you begin recording transactions for the customer or vendor, you won't be able to change the selection you've made in the Currency field.
Customer and vendor cards
If you assign a foreign currency to a customer, all sales to that customer will appear in the customer's currency. For example, if you indicate that a particular customer uses British pounds, all sales invoices for that customer will be recorded in British pounds.
Payments received from the customer also must be in the customer's currency. As with customers, if you assign a foreign currency to a vendor, all purchase orders for that vendor will appear in the vendor's currency. For example, if you indicate that a particular vendor uses British pounds, all purchases from that vendor will be recorded in British pounds. Payments to the vendor also will be recorded in the vendor's currency.
Employee cards
You can assign a foreign currency to an employee if you like -- but only if you don't plan to record employee payments for the employee using AccountEdge. If you plan to use AccountEdge to record payroll transactions for an employee, you must select your home currency for that individual.
Selecting a foreign currency may be useful if the employee is a salesperson who makes all of his or her sales in another currency -- British pounds, for example -- and you don't plan to use AccountEdge to pay that employee. When you print reports that show individual salespeople's sales amounts, the amounts will be displayed in the currencies assigned to each salesperson.
Since only one currency can be assigned to any employee, you should use your home currency for any employees who may make sales in more than one currency. You'll be able to assign these employees to any transactions you like. If you assign a foreign currency to an employee, however, you'll be able to include the employee only in transactions that use that currency.