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If the Entity-Level Multi-Currency Accounting option is not selected on the Administration > Settings > Money form, the Currency field shows the accounting currency of your company that might be different from the national currency of the registration country of your company. The Rate field is populated with the default exchange rate of the company's accounting currency with respect to the national currency of the company registration country. The Factor field is populated with the default multiplier used for this currency conversion.
If the Entity-Level Multi-Currency Accounting option is selected, the Currency field shows the accounting currency of the entity to which this document belongs. The Rate field is populated with the default exchange rate of the entity's accounting currency with respect to the national currency of this entity's registration country. The Factor field is populated with the default multiplier used for this currency conversion.
Notice that all the transaction amounts are recorded to the database in the accounting currency as well as in the document and national currencies. For more information, refer to Overview of the Entity-Level Multi-Currency Accounting functionality.
National Currency
If the Entity-Level Multi-Currency Accounting option is selected on the Administration > Settings > Money form, the Currency field shows the national currency associated with this entity. Otherwise, the field is not available.
Currencies
The Currency field is populated with the contract currency, and you cannot change it. The Rate field is populated with the default exchange rate from the contract.
Select the Recalculate Prices by Currency check box to apply the conversion parameters to the prices in the document if the prices of the selected price type are defined in another currency.
If the accounting currency is different from the national currency, all the transaction amounts are recorded to the database in the accounting currency as well. For conversion, the application uses the rate specified in the document.
Taxes
In the Taxation field, select the appropriate option from the following options:
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