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Can Oracle realize three-currency bookkeeping?

edited Jun 29, 2023 11:16AM in Tax & Global 3 comments

Summary:

Can Oracle realize three-currency bookkeeping? 

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Can Oracle realize three-currency bookkeeping?

The company is registered in Albania, and the functional currency is USD. The invoice currency issued by the supplier is EUR, and the exchange rate between EUR and the local lek currency will be indicated on the invoice (because it involves paying taxes to the local government). According to the existing logic of oracle, accounting entries are as follows:

DR: the cost is 100EUR.

DR: tax 20 EUR

CR: accounts payable 120EUR


The above entry only has the amount of EUR in the original currency and USD in the functional currency, but the tax should be converted into LEC amount according to the exchange rate of EUR and LEC in the invoice. I can't find a place to record the exchange rate of EUR and LEC in AP invoice.

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