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Understanding Foreign Currency Concepts

This topic explains the accounting topics of handling gains and losses from foreign currency transactions and the treatment of General Ledger (GL) accounts that have receivables and payables at the end of a period. It describes what methods are employed by Aptify and offers a comparison of accounting methods and accounting periods to better explain Aptify's preferred approach to realizing foreign currency gains and losses during order, payment, and GL batching transactions.

When an organization deals with foreign currency transactions, some accounting complexities occur that do not arise for domestic-only transactions. These complexities result primarily from the fluctuation in exchange rates of foreign currencies.

This topic contains the following sub-topics:


See Orders with Different Currency Payments for information on how Aptify accounts for payments in a currency that different from the corresponding order's currency.

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