How to handle forex business in accounting

Question

Hi
We are working with 3 different currencies. CHF as our main curreny, EUR and USD. So we are faced to currency exchange transactions mostly from USD to CHF but also from USD to EUR and some times from CHF to EUR. This happeny 3-4 times a month.

Question. What is the best practis to handle such transactions in odoo?
Thanks for your help.
Best regards
Roger

Ray Carnes (ray) · Accepted Answer

1. Setup your three bank accounts - each will create a Journal that is in the Currency that the bank holds funds in (even though each account will be recorded in CHF in Odoo).
2. Follow the transfer between accounts workflow explained at https://www.odoo.com/forum/help-1/v14-how-do-i-record-a-bank-transfer-from-two-accounts-in-different-currencies-with-a-specific-exchange-rate-179026 [1]

[1] /forum/help-1/v14-how-do-i-record-a-bank-transfer-from-two-accounts-in-different-currencies-with-a-spec

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