Nominal Control Accounts¶

Foreign Currency Functionality (Phase 1)

If Blindata Accounting is switched on, there is a new flag Parameters > Accounting Parameters called ‘Enable Foreign Currency Realization’.

There are two new records in System Tables > Nominal Control Accounts called ‘Exchange Gain Unrealized’ and ‘Exchange Gain Realized’.
These records must have nominal codes in them if ‘Enable Foreign Currency Realization’ is switched on.
System Tables > Currency Types

If a currency rate is altered in System Tables > Currency Types, and ‘Enable Foreign Currency Realization’ is switched on, then a window appears saying ‘Foreign currency exchange gain unrealized transactions will now be created for outstanding sales and purchase invoices in this currency’.

A routine will then be run that does as described in Day 2 above (for purchase invoices). For sales invoices, the nominal transactions will go to accounts receivable and ‘Foreign Exchange Gain Unrealized’.
The transaction id of the sales invoice or purchase invoice will have to be recorded against these two transactions.
The transaction type will be FE.

Further work is required to complete foreign currency functionality.

Sales Receipt Posting
Supplier Payment Posting
Credit Note Entry