YousrERP User Guide
Introduction Setup
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YousrERP.com العربية

Multi Currency Accounting

YousrERP supports transactions in multiple currencies. This is essential for Saudi businesses that deal with international suppliers and customers alongside local SAR transactions.

Setting Up Multi-Currency

  1. Go to Accounting > Currency to add currencies you'll use (USD, EUR, GBP, etc.).
  2. Go to Accounting > Currency Exchange to set exchange rates.
  3. In the Company master, set SAR as the default currency.

How It Works

  • Each Customer and Supplier has a Default Currency field. When you create a transaction with them, their currency is automatically selected.
  • Exchange rates are applied based on the Exchange Rate master, which you can update daily or as needed.
  • Transactions are always recorded in the Company Currency (SAR) in your books, with the foreign currency amount also tracked.

Key Features

  • Automatic Exchange Rate: Set exchange rates to auto-fetch from exchange rate providers (optional).
  • Exchange Gain/Loss: When payments are made at different rates than the invoice rate, exchange gain/loss is automatically calculated and posted.
  • Multi-Currency Bank Accounts: Hold bank accounts in different currencies.
  • Multi-Currency Reports: View financial reports in any currency.
  • Revaluation: Periodically revalue foreign currency balances.

Exchange Rate Revaluation

At the end of accounting periods, you can revalue foreign currency account balances to reflect current exchange rates. The difference is posted to the Exchange Gain/Loss account set in your Company master.