Accounting · Odoo glossary

Multi-Currency

Multi-currency processing records transactions in currencies other than an entity’s accounting currency, while maintaining values in that accounting currency.

Definition

In general ERP practice

Multi-currency processing records transactions in currencies other than an entity’s accounting currency, while maintaining values in that accounting currency. Exchange-rate changes can create realized or unrealized differences.

In Odoo

Odoo supports foreign-currency invoices, bills, payments and bank journals, with configured currency rates. Reconciliation can generate exchange-difference entries; a foreign-currency transaction remains part of the company’s own accounting books.

Continue reading

Related guides and pages