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