Load currency resolution easily

Aug 6th, 2022
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How to load currency resolution

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hi there hope you all are find there this is MJ today I will show you how to add real-time currency converter in Microsoft Excel so Im going to explain very easy and I will show you the easy method so dont be confused and be patience and watch this video till the end so lets start first open your browser and open the google and type exits and go through the first link and here you are select your preferred currency like dollar or Euros I will take dollar ok so after this click on rates table ok then its finished now wait table is a bit now come to Excel open the sheet ok in the sheet click on data and now check from web click on from web ok so as you can see here with one new web open now go to your Chrome or whatever browser using copy the URL dont be confused its very simple now move to excel and here just wheres the URL and click on cope okay we go to the table here as you can see arrow mark is showing so you can import this table to excel so dollar table here so click here

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In the legal entity that youre updating currencies for, go to General ledger Ledger setup Ledger. On the Ledger page, select Edit. On the Currency FastTab, select the accounting currency and reporting currency to use for the legal entity. Select Save.
Example: Consider an example of a company A having basic operations carried in India and headquarter is in USA, making some business transactions in GBP. In this case, the Transactional currency is GBP (Great Britain Pound), Functional currency is INR (Indian Rupees) and Reporting currency is USD (US Dollars).
Reporting currency is the currency in which an entitys financial statements or other financial documents are reported. Choosing one currency for reporting makes it easier to understand the financial documents across the board.
The accounting currency may also be called the reporting currency. The accounting (reporting) currency is not necessarily the same as the functional or transactional currency. The functional currency is what employees and customers use when conducting a transaction, such as a sale.
Accounting currency is what your legal entity uses for amounts calculation. It is unique per the legal entity. Reporting currency is the currency used for operational reporting to the government bodies.
The reporting currency is the currency in which a company will report its financial statements. A reporting currency must be one currency, which makes it easier to understand and follow financial documents.

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