General Ledger - EBS (MOSC)

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Converting EUR into USD

edited Mar 6, 2013 5:10AM in General Ledger - EBS (MOSC) 2 commentsAnswered ✓
Hello,

 

We have two bank accounts, one we use for EUR transactions and the other USD. We recently transferred EUR to our USD account. I am having a problem with converting EUR into USD so that the General Ledger reflects only USD in the account which the funds are being received. I created a journal entry in EUR to transfer the funds into our USD account, but the account now shows a EUR balance, which I'd like to avoid. If I book the transfer in USD, then the EUR account balance will not be updated properly.

I'd like to know if there is a way to book this activity so that the EUR is converted into USD before the transfer is made to the USD account, and the realized gain or loss on will be calculated correctly.

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