In TechoERP, you can create transactions in the foreign currency as well. When creating a transaction in a foreign currency, the system updates the current exchange rate with respect to the customer/supplier's currency and bases currency on your Company. Since Exchange Rate is always fluctuating, one might receive payment from the client at an exchange rate different from the one mentioned in the Sales/Purchase Invoice. Following is the instruction on how to manage the different amounts, availed in payment entry, due to exchange rate change.

Add Expense Account

To manage currency difference, create Account Exchange Gain/Loss. This account is generally created on the Expense side of P&L statement. However, you can place it under another group as per your accounting requirement.

Book Payment Entry