Foreign Currency Accounts in the Chart of Accounts

• There are three types of system accounts that track realised and unrealised currency movements in the chart of accounts. 
• You can track the balance of your foreign currency bank account in the applicable currency. 

Foreign Currency System Accounts 

Bank Revaluation Account 

• The automatically revalued transactions from a foreign currency bank account are coded to this account such as spend and receive money, bank account transfers, sales invoices, bills and credit note refunds. 
• For foreign currency bank accounts, the total difference between what the funds in the account were worth on the day of payment compared with today’s exchange rate is recorded in the bank revaluation account. 
• The balances for this account is not shown but you can click on the Details button to analyze the Foreign Currency Gains and Losses report. 
• You can’t assign any code to this account because it’s used only for showing currency movements in the Profit and Loss and other Clickentry reports. 
• Reported on the Cash Summary report. 

Realized Currency Gains Account 

• Realised currency gains account calculates the gains or losses recorded between the date that the invoice, bill or credit note was created and the date of payment. 
• If you want to see the gain or loss amounts on invoices, bills and credit notes that make up the total realised amount then click on the balance. 
• You can use this account in manual journals. You can also set this account to show in expense claims so that you can use it while adding receipts. 
• Reported on the Profit and Loss report and Executive Summary. 

Unrealized currency gains account 

• Unrealised currency gains account calculates the unrealised gains or losses on unpaid invoices or bills, calculated at today’s exchange rate. 
• Clickentry doesn’t show any balance for this account. But if you want to see the Foreign Currency Gains and Losses report then click on Details.  
• You can’t assign any code to this account because it’s used only for showing currency movements in the Profit and Loss and other Clickentry reports. 
• Reported on the Profit and Loss report and Exec0utive Summary. 

Foreign Currency Bank Accounts 

When you use multicurrency in your organisation then these accounts will be included in your chart of accounts by default.