Payables and Cash Management - EBS (MOSC)

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How to transfer amount from bank account to to another bank account; both have different currencies

edited Aug 20, 2021 7:36AM in Payables and Cash Management - EBS (MOSC) 7 commentsAnswered ✓

Dear All,

Cash Management super user is asking how to transfer amount from bank account to to another bank account; both have different currencies in same ledger.

Example:

We need to transfer to EUR bank account 500 EUR; We already have 620USD in USD bank account;

The accounting entry needed:

Dr. EUR bank account 500 EUR
Cr. USD bank account 620 USD

Notes:
1. Exchange rate: EUR = 1.24 USD.
2. Functional currency is JOD.

Thanks in advance...

Regards,

Shareef

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