Every nation has its own currency and to obtain another currency it is necessary to buy it using the appropriate exchange. The price of a currency compared to another is called the exchange rate. To change money means to convert the amounts of one currency to another. The exchange (exchange rate) varies constantly and indicates the rate of conversion.

For example, on January 1st

• 1 Euro (EUR) was equal to 1.32030 US Dollar (USD)
• 1 US Dollar was equal to 0.7580 Euro
• 1 EUR was equal to 1.60970 Swiss Franc (CHF)
• 1 EUR was equal to 157.2030 Japanese Yen (JPY)

Multi-currency Accounting One talks about multi-currency accounting or multi-value accounting when accounts in different currencies are kept. It is necessary to have multi-currency accounting when a company has bank, cash, and debtors’ accounts in more than one currency. Even if just one account is in a foreign currency it is necessary to administer a multi-currency accounting.

Basic Currency

The amounts referring to different currencies cannot be totaled directly. It is necessary to have a basic currency to refer to and to use for the totals. The main point of accounting is that the totals of the “Debit” balances must correspond to the totals of the “Credit” balances. To verify that the accounting is balanced, there must be a single currency with which to do the totals. If there are different currencies, the basic currency must be indicated before anything else. Once the basic currency has been chosen and some operations have been executed, the basic currency can no longer be changed. To change the basic currency, the accounting must be closed and another opened with a different basic currency. The basic currency is also used to establish the Balance Sheet and to calculate the profit or loss of theoperation.

Each amount has its equivalent in basic currency

To be able to add the totals and verify that the operations balance, it is necessary to have the equivalent in basic currency for every transaction. In this way you can check that the total of the Debit entries is the same as the total of the Credit ones. If the basic currency is Euros and there are transactions in US Dollars, there needs to be an exchange value in Euros for every transaction in US Dollars. All the Euro amounts will be totaled to verify that the accounting balances.

Account currency

Each account has its own currency symbol which indicates in which currency the account will be administered. You must therefore indicate what the currency of the account will be. Each account will then have its own balance expressed in its own currency. Only entries in this currency will be permitted on this account. If the account is in Euro, then there can only be Euro entries on this account; if the account is in USD, then there can only be entries in the specified USD currency on this account. When you have to administer entries in YEN, then you have to have an account whose symbol is the YEN.

Account Balance in basic curency

For each account, alongside the balance in the account’s own currency, the balance in basic currency will also be kept, in order to calculate the balance sheet in basic currency.
The account card for the USD bank account has to correspond exactly to the bank statement as far as the USD amounts are concerned.
The value in basic currency will always be specified for each accounting entry. If the account is in USD, in the entries there will be, beyond the amounts in USD, also its value in EUR. The EUR balance will be given by the sum of all the entries expressed in EUR. The actual balance in basic currency will depend on the exchange rate factors used to calculate the exchange value of each, single entry to EUR.
If on a given day you take the actual balance in USD and convert it to EUR at the daily exchange rate, you will get an exchange value that differs from the balance of the account in basic currency. This difference is due to the fact that the exchange rate used for entries on a daily basis is different from the actual daily exchange rate.
Thus there is a difference between the actual value at the daily exchange rate and the accounting balance in basic currency. This accounting difference is called the exchange rate difference.
The difference between the balance in basic currency and the calculated value has to be registered, when the accounting is closed, as an exchange rate profit or loss.

Balances in another currency (currency2)

All the accounting reports will be calculated in basic currency. If you take the basic currency values and change them to another currency, you will get the balance in another currency. The program has a Currency2 column where all the values are automatically entered and presented in the currency specified as Currency2. The logic for the conversion of the amounts is the following:

• If Currency2 is the same as the account or operation currency, then the original value will be used.
• If the account is in USD and Currency2 is USD, the USD amount will be used.
• In all other cases the basic currency amount will be used and changed into Currency2.
• The daily exchange rate is used. Even for past entries, the exchange value in Currency2 will be expressed on the basis of the most recent exchange rate, and not on the historical one used on the day of the entry.

You need to pay attention to the fact that a balance converted to another currency will show small differences in the totals. Often the converted value of a total is not equal to the sum of split exchange values, as can be seen from the following example:

In the basic currency, total assets are equal to total liabilities. It is permitted to present a Balance Sheet that contains differences only if they are understandable and if it is indicated that they were due to calculations from another currency.

Accounts table, Currency 2 view

Variabilità dei cambi

La compravendita di monete avviene su un mercato libero. Il prezzo (tasso di cambio) viene fissato in base alle regole della domanda e dell'offerta. Le differenze nel controvalore possono essere più o meno importanti a seconda delle fluttuazioni del tasso di cambio.

Il cambio
ll cambio è riferito alla moneta base. Ci sono sempre due diversi valori di cambio fra due monete, a seconda della moneta che viene usata come moneta base.

Per le monete USD ed Euro ci sono quindi due diversi cambi:

• Se la base di cambio è EUR allora il cambio è 1.32030
  1 Euro (EUR) corrispondeva a 1.32030 US Dollar (USD)
• Se la base di cambio è USD allora il cambio è 0.75800
  1 US Dollar corrispondeva a 0.75800 Euro

Nel presente documento si userà di regola l'Euro come moneta base, a cui verranno rapportate le altre monete.

Cambio inverso
Avendo il cambio EUR/USD di 1.32030, si trova il cambio USD/EUR dividendo 1 per il tasso di cambio.

I controvalori calcolati con un cambio inverso possono risultare diversi da quelli originali a causa degli arrotondamenti.

Bisogna evitare di usare cambi inversi per non avere differenze.
Per esempio per il passaggio all’Euro è stato vietato l'uso di cambi inversi .

Moltiplicatore
Vi sono delle monete che hanno cambi molto ampi.

Sempre al 1 gennaio

• 1 US Dollar = 670,800 Turkish Lira
• 1 Turkish Lira (TRL) = 0.00000149 US Dollar (USD)

Invece di usare tanti zeri si può dire che

• 1000 Turkish Lira (TRL) = 0.00149 US Dollar (USD)

Il moltiplicatore è in questo caso 1000 invece di 1.

Precisione
Di regola si specifica un cambio con una precisione di almeno 6 cifre dopo la virgola.
Ci sono però casi dove è necessario usare una precisione maggiore

• 1 Turkish Lira (TRL) = 0.00000149 US Dollar (USD)

Quando si cambia la precisione e si arrotonda il cambio in maniera diversa, cambiano anche gli importi. La precisione con cui si specifica il cambio è molto importante.

Taglio minimo
Specialmente per le banconote si usano tagli minimi. Per i Franchi Svizzeri si usa di regola come taglio minimo cinque centesimi (0.05). Quando si effettuano dei cambi, per esempio EUR/CHF:

• 1 EUR = 1.60970 Franco Svizzero

Calcolo dei cambi e dei controvalori
Quando l'Euro è la moneta base

Fattore di cambio EUR/USD è 1.32030
1 Euro (EUR) corrisponde 1.32030 US Dollar (USD).

Calcolo del controvalore:
Si moltiplica l'importo in moneta base per il fattore di cambio:

• EUR 100 per 1.32030 = USD 132.03

Calcolare l'importo in moneta base:

Si divide la moneta di destinazione per il cambio:

• USD 132.03 diviso 1.32030 = EUR 100

Calcolare il fattore di cambio:

Si divide l'importo in moneta base per l'importo moneta destinazione:

• EUR 100 diviso USD 132.03 = 0.7574

Cambio di acquisto e di vendita
Le banche effettuano la compravendita di monete e mantengono un margine di guadagno. Applicano dei tassi di cambio diversi a dipendenza se acquistano o vendono una determinata valuta.

Vendita: la banca riceve moneta locale e dà (vende) moneta estera.

Acquisto: la banca riceve (acquista) moneta estera e dà moneta locale.

Cambio moneta e cambio banconote (Aggio)
Cambio moneta: cambio per movimenti scritturali (da un conto all'altro).
Cambio banconote: cambio per banconote.
Aggio: commissione per convertire un importo scritturale in contanti.

Per il cambio moneta, le banche mantengono un margine minore (differenza acquisto/vendita) rispetto a quello delle banconote. Quando si desidera trasformare un valore scritturale (avere su un conto) in moneta contante, la banca applica una commissione detta aggio.

Differenze ricambiando in moneta base
Quando si cambia un importo in un'altra moneta ci si aspetta che cambiando all'inverso si ottiene il medesimo importo di partenza.

Non sempre cambiando il controvalore si ottiene il medesimo importo. A causa degli arrotondamenti ci possono essere casi dove non si può avere il medesimo valore di ritorno.

Differenze totali scomposizioni
Non sempre il totale del controvalore delle componenti di un importo, dà il medesimo controvalore dell'importo complessivo.
In questo esempio, l'importo di 2.16 EUR dà un controvalore in USD di 2.85. Scomponendo l'importo e sommando i due controvalori si ottiene 2.84.

Queste differenze matematiche non possono essere eliminate se non registrandole appropriatamente.

Exchange rates vary all the time and therefore also the exchange value to basic currency varies. Between one period and another, there will inevitably be exchange rate differences.

Exchange rate differences are not accounting errors but simple adjustments of the values made necessary in order to keep the accounting figures in step with normal fluctuations.

As you open the accounting, the figures in the balance column are equal to those present in the opening column. When there are entries, these will update the figures in the balance column.

The calculated balance column contains the exchange value to basic currency for the account balance, at the daily exchange (on the exchange rate table). The difference between the balance in basic currency and the calculated balance is the exchange rate difference.

At March 30th the EUR/USD exchange rate is different from the one at the beginning of the year. In the above example there were no accounting entries during the three-month period. The situation, from an accounting point of view, has not changed since the beginning of the year. Despite this the total of the updated balance, using the rate at the end of March, is different when compared to the beginning of the year. The credit bank balance and the loan in USD have a different value in EUR. There are therefore consequences for the accounting even though there have been no entries.

In the above example, you will notice that the Euro is now worth less against the dollar compared to the beginning of the year. The dollar is therefore worth more against the Euro.

The exchange value of the balance on the account in USD is greater than it was at the beginning of the year. You have a greater estate and therefore a profit on the exchange rate.

On the debit side there is a USD 500.00 loan. Now the exchange value in EUR is greater compared to the value input at the beginning of the year. The value of the loan has increased and brings about a loss due to the exchange rate difference.

In the following example we shall use the hypothesis that there has been the opposite development. We imagine that the Euro has increased in value and is therefore worth more against the USD. The exchange value in EUR of an amount in dollars is less than the one at the beginning of the year.

As a consequence of an increase in the Euro/dollar exchange rate, you have a USD bank deposit with an exchange value in EUR which is less than at the beginning of the year. The total worth has diminished and there is therefore a loss.

The USD loan has a lower exchange value in EUR. A lesser liability is an advantage for the company and there is thus an exchange rate profit.

Exchange rate profit

You have an exchange rate profit when:

• The exchange value of your assets increases (increase of the investments)
• The exchange value of the liabilities decreases (decrease of the loans).

Exchange rate losses

You have an exchange rate loss when:

• The exchange value of your assets decreases (decrease of the investments)
• The exchange value of the liabilities increases (increase of the loans).

Accounting features foe exchange rate differences

Exchange rates can evolve in different ways. Often they rise, only to fall again. The principle rule for accounting is that the figures written on the Balance Sheet must be true ones. When you present your Balance Sheet, the exchange values of foreign currency accounts must be made at the exchange rate on the day of presentation.

The exchange rate difference is calculated as if you had to definitively convert the amount to basic currency. In reality there is no definitive conversion so you are only dealing with a correction to the accounting.

Closing exchange rate

At the end of each year it is necessary to prepare the complete Balance Sheet. The exchange rates thus have to be updated with the closing exchange rates. It is also necessary to enter the exchange rate differences once and for all; if these are not entered, then there will be differences in the opening balances.

Enter the exchange rate diferences
 

As can be seen from the above example, the bank balance is USD 100.00. For the accounting it has been valued at 75.74 EUR. Today’s actual exchange, though, is only EUR 73.44. There is a difference of EUR 2.30 EUR in basic currency. The entry must therefore decrease the EUR amount. You proceed with a transaction that debits the bank account and credits the exchange rate loss account by EUR 2.30. As you can see, the actual bank account balance of USD 100.00 has not been altered. The entry only alters the basic currency balance.

When entering the exchange rate difference, you need to be sure that the exchange value in basic currency corresponds to the actual exchange value, calculated at either the daily exchange rate or the closing one.
The figures in the account currency must not be altered. You must therefore proceed to make an entry that only alters the basic currency balance on the specific account.

As the account on the other side you will have the exchange rate profit or loss account.

Enties on account valued with the exchange rate of the time of purchase

When the positions, valued with exchange rates of the time of purchase (historical ones) are increased or decreased, you have to calculate the exchange of the exchange rate table, taking into account the development of the amounts being brought forward.

Investments valued at the exchange rate of the time purchase

Certain investments (shares, real estate abroad) are valued using the exchange rate of the time of purchase (historical exchange) and not the current one. The exchange rate profit and loss is not accounted for until it is actually realized. You must therefore make certain these accounts do not get valued using the current exchange rate.

In order to input a fixed, historical exchange, you need to create a supplementary currency on the account table (e.g. USD1) with a fixed exchange rate. This currency will then only be used for this account with a fixed rate. If you have to make a transfer from the USD account to the USD1 account, you proceed exactly as if you were working with two different currencies. For this reason you will have to use a two-line entry.

Opening with special exchange rates

Inputting the opening balances in the “opening” column, foreign currency amounts will be converted to basic currency at the opening exchange rate.
If this system proves not to be flexible enough (you need various special rates or there are rounding differences) the opening can be done manually by making normal entries, indicating the amounts and the exchange rates you want for each account. In this case, the “opening” column of the Accounts table will be left blank.

Het programma signaleert een verschil in de beginsaldi in het nieuwe jaar wanneer in het vorige jaar de wisselkoersverschillen niet berekend zijn.

Er zijn twee mogelijkheden om dit probleem op te lossen:

• Voer in de Wisselkoerstabel in de Wisselkoers kolom de officiële wisselkoersen op 31 december in
• Activeer in het menu Taken het commando Transactie aanmaken voor wisselkoersafwijking....
• Open het bestand voor het nieuwe jaar en werk de beginsaldi bij.

• Open het bestand van het nieuwe jaar
• Voer in de Activa of de Passiva (Rekeningentabel), afhankelijk van de situatie, een nieuwe rekening Niet geboekte Wisselkoersverschillen in of boek het bedrag op de rekening 2100 Verschillenrekening (zoals in het volgende voorbeeld)
• Voer in de Opening Valuta kolom het bedrag overeenkomend met het wisselkoersverschil in.

• Op 1 januari moet de wisselkoersverschillen rekening op nul gezet worden door middel van een transactie (Transactiestabel) waarbij de rekening die betrekking heeft op de wisselkoersafwijkingen (Wisselkoers winst/verlies) van de Winst & Verlies rekening als tegenrekening gebruikt wordt.

Nadat de transactie om het wisselkoersverschil te boeken gemaakt is moet de rekening die gebruikt is een saldo nul hebben of een saldo gelijk aan het bedrag overeenkomend met het saldo voor de transactie.

Als de basis valuta wordt ingevoerd als referentie valuta dan kunnen wisselkoersen met een vermenigvuldigingsfactor groter dan 1 een verschil geven tussen het Banana8 boekhoudingsprogramma en eerdere versies. In deze zeldzame gevallen wordt een waarschuwing gegeven en het bestand wordt geopend als "alleen lezen" als dit afkomstig is van een eerdere versie van het programma.

• Open het bestand in Banana 8 en bevestig de waarschuwing;
• Herbereken de boekhouding (Shift + F9);
• De waarschuwingen "Transactie vermenigvuldiger is niet hetzelfde als die in de Wisselkoerstabel" kan genegeerd worden;
• Controleer of de saldi en het resultaat van de boekhoudperiode verschillend zijn in vergelijking met die van eerdere versies. Als er geen verschillen zijn sla dan het boekhoudbestand op onder een nieuwe naam; anders is het nodig als volgd te werk te gaan;
• Corrigeer de wisselkoers In de Wisselkoerstabel, voor de wisselkoersen met een vermenigvuldigingsfactor groter dan 1, door deze te vermenigvuldigen met de waarde van de vermenigvuldigingsfactor en zet de vermenigvuldigingsfactor op 1. Bijvoorbeeld, als we een vermenigvuldigingsfactor van 100 hebben en een wisselkoers van 0.9944608, corrigeer dan de wisselkoers naar 99.44608 en de vermenigvuldigingsfactor naar 1;
• Herbereken de boekhouding (Shift + F9);
• De waarschuwingen "Transactie vermenigvuldiger is niet hetzelfde als die in de Wisselkoerstabel" kan genegeerd worden of het is mogelijk deze te verwijderen door in de overeenkomstige transactierij op het bedrag in basis valuta te klikken en op F6 te drukken;
• Controleer of de saldi en het resultaat van de boekhoudperiode overeenkome met die van eerdere versies;
• Sla het bestand op met een nieuwe naam;
• Vanaf nu kunt u de wisselkoersen en de vermenigvuldigingsfactor in het uw voorkeursformaat definiëren, omgekeerd, met of zonder vermenigvuldigingsfactor, waarbij u de saldi en het resultaat van de boekhoudperiode controleert na iedere verandering.

Op het eind van de boekhoudperiode als deze wordt afgesloten moeten de valuta worden geherwaardeerd in Basisvaluta door aanpassingstransacties aan te maken voor wisselkoersverlies of -winst door fluctuaties van de wisselkoersen. (zie voor de theorie pagina Revaluations and exchange rate differences).

Het commando Transactie aanmaken voor wisselkoersafwijking... van het menu Taken berekent de herwaarderingen voor vreemde valuta rekeningen.

Datum van de transacties voor de wisselkoersafwijkingen
Voer de datum in die uw wisselkoersafwijkingen transacties moeten hebben.

Het programma stelt de einddatum van de maand voor waarin de laatste transactie is ingevoerd. Wordt bijvoorbeeld op 3 mei 2016 de laatste boeking gedaan dan stelt het programma 31.05.2016 voor.

Als er transacties zijn voor wisselkoersafwijkingen met dezelfde datum vraagt het programma of deze vervangen moeten worden.
Het programma beschouwt de transacties voor wisselkoersafwijkingen als bestaand als deze dezelfde datum, doc, beschrijving, rekenigen en valuta hebben en als er geen bedrag staat in de rekening valuta.

Documentnummer
Voer het documentnummer in dat uw wisselkoersafwijkingtransacties moeten hebben.

Historische wisselkoersen gebruiken (wisselkoers-rijen met datum)
Voor de berekening van de wisselkoersafwijkingen gebruikt het programma de wisselkoersen van de Wisselkoersentabel zonder een datum (de meest recent wisselkoersen). Met de optie Historische wisselkoersen gebruiken gebruikt het programma inplaats daarvan de wisselkoersen van de Wisselkoersentabel met een datum eerder of gelijk aan de datum die aangegeven is.

Waardes die gebruikt worden om de transacties aan te maken

Voor meer informatie verwijzen we naar onze pagina Vreemde valuta transacties.

Bedrag van de transactie

• Transacties voor de wisselkoersafwijkingen worden alleen aangemaakt voor de rekeningen in vreemde valuta die een afwijkend saldo hebben in baisvaluta vergeleken met het berekende saldo op een specifieke datum.
• Voor het bedrag in basisvaluta wordt het verschil tussen rekeningsaldo in basisvaluta en het rekeningsaldo in vreemde valuta, omgerekend naar basisvaluta, gebruikt.

Rekeningsaldo
Voor de berekening van de wisselkoersafwijkingen worden de saldi in de rekeningvaluta en in basisvaluta, op de gespecificeerde datum, gebruikt.

Wisselkoers winst en wisselkoers verlies rekeningen
Als wisselkoers winst en verlies rekeningen worden gebruikt, in de volgende volgorde:

1. De rekeningen ingevoerd in de specifieke kolom van het rekeningschema met vreemde valuta.
2. De wisselkoers winst & verlies rekeningen aangegeven in de Bestands- en boekhoudingseigenschappen.

Positie van de ingevoerde rijen
Wanneer u zich in de Transactiestabel bevindt terwijl u dit commando uitvoert worden de rijen ingevoegd op de positie van de cursor.
Anders worden ze ingevoegd aan het eind van de transactiestabel of op de positie van bestaande transacties in het geval dat ze deze vervangen.

Voordat u het commando gebruikt

1. In het commando Bestands- en boekhoudingseigenschappen... van het menu Bestand, sectie Vreemde Valuta: zorg ervoor dat de Wisselkoers winst en verlies rekening worden aangegeven. Het is ook mogelijk dezelfde rekening voor zowel wisselkoers winsten als wisselkoers verliezen aan te geven.
2. Zorg ervoor dat de rekeningen in vreemde valuta worden bijgewerkt en dat de saldi in vreemde valuta van deze rekeningen (bijvoorbeeld bankrekeningen) overeenkomen met de saldi aangegeven door de bank.
3. Werk de huidige wisselkoersen van de Wisselkoersentabel bij.
   U moet de sluitings wisselkoersen of die van een periode-einde aangeven in de rijen zonder een datum in de Wisselkoers kolom (verander niet de begin wisselkoers in de K.Opening kolom). Om de Wisselkoersafwijkingen te berekenen gebruikt het programma de wisselkoersen van de rijen zonder een datum. Als deze laatste er niet zijn geeft het programma een foutmelding.

Wisselkoersen voor het Nieuwe Jaar

Om de Beginsaldi van het Nieuwe Jaar in basisvaluta exact te laten overeenkomen met de Eindsaldi van het voorafgaande jaar moeten de Openings Wisselkoersen van het Nieuwe Jaar, aangegeven in de Wisselkoersentabel, hetzelfde zijn als die worden gebruikt voor het afsluiten van de boekhouding, dus:

• De sluitings wisselkoersen moeten worden aangegeven in de Wisselkoers kolom van de rijen zonder een datum;
• De openings wisselkoersen moeten worden aangegeven in de K.Opening kolommen van de rijen zonder een datum.

De procedure om een nieuw jaar aan te maken of om de beginsaldi bij te werken copiëert de sluitingssaldi (Wisselkoers kolom, rijen zonder een datum) van het vorige jaar in de openings wisselkoersen (Wisselkoersentabel, K.Opening kolom, rijen zonder een datum) van het bestand van het nieuwe jaar.