General Ledger

Add two new general ledger accounts to accommodate journals for unrealised gains/losses and realised gains/losses.

Typically, these new general ledger accounts would be set up as Income accounts, for example:

4-8500	Multi-Currency Gains/Losses	Header
4-8501	Realised Gains/Losses	Control or Detail. Detail accounts allow for rounding whereas Control accounts do not.
4-8502	Unrealised Gains/Losses	Control or Detail. Detail accounts allow for rounding whereas Control accounts do not.

The Default Tax Code should typically be X, as transactions to these accounts are performed behind the scenes within Jim2.

Tools > Options > Accounts > Linked Accounts

Once these accounts are set up and Multi-Currency has been turned on in Options, the view of the general ledger includes two additional columns:

▪Currency

▪FC Balance

These are for showing the nominated currency and calculated foreign currency balance of detailed cheque and credit card accounts. The Account Balance column will always show its current balance in the general ledger in AUD.

The AUD value of these accounts can be revalued using the Multi-Currency Revaluation Session.

Only the home currency can be used in general journals, as the general ledger is only in home currency.