Hello,
I've done a few implementations in the past in Canada and have usually enabled USD as a tracking currency while keeping CAD as both the Entity Currency & tracking currency. Yet I've noticed at one customer site that i did not implement myself that USD was not enabled as a tracking currency.
I've always thought that having the extra foreign currency tracked very useful for reconciling the USD GL accounts such as AR-USD, AP-USD, and Bank-USD. At month-end or year-end i would just make adjusting JEs to balance the USD accounts to the CAD equivalent. Aside from taking extra space on the server for the extra records I found this approach preferable and easier for end-users to follow.
What are other people doing when it comes to using foreign currency GL accounts? Am I missing something with the Revalue function?
Thanks for your input.
