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Also, on the Administration > Settings > Money form, you can select the default national and accounting currencies. In case when the entity-level multi-currency functionality is not used, they will serve as the national and accounting currencies for each of the entities. For details, refer to Settings: Money.
For each entity, you can assign the accounting currency and the national currency in the entity master record: Accounting > Master Data > Entities.
For details, refer to Adding an Entity.
Before entering any transaction, you need to specify for each entity the exchange rates for the currencies the entity will use. For this, you need to define the reference currency with respect to which the exchange rates are recorded. Generally, the national currency is used as the reference currency. You can add the current and historic exchange rates with respect to the reference currency manually or import them via an Excel spreadsheet. You can open the currency master record by clicking the 
button to the right in the Currency field, or open the Money > Master Data > Currencies form and click the Currency rates link on the top of the form.
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If you need to review the data or enter another rates, click the link - this opens the Prices and Currencies dialog box which is similar to the dialog box as is shown on the screenshot earlier. For details, refer to The Prices and Currencies dialog box (Purchasing).
Creating Payroll Documents
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Some reports can be generated only on per entity basis, for instance, the following reports:
- Income Statement
- Statement of Financial Position (Balance Sheet)
- Statement of Changes in Equity
- Income and Expenses
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