Chart of accounts and Profit and loss values - foreign currency

Accounting
1

Is it normal to disregard different currencies in the chart of accounts? Does it only matter that it balances so there is no regard for difference in values between currencies? Does General sales also just add numerical values?

Does anyone on this forum invoice and receive payments in multiple currencies? I would like to discuss this.

2

Hello @sean1

Your nominal ledger would always show in the base currency, all transactions are converted back from their foreign equivalents.

Please see the article below

https://support.quickfile.co.uk/t/invoicing-in-foreign-currencies/8901

3

Thanks @QFSteve I narrowed it down to a single month and it was easier to see this is true.

4

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