How to View Currency Gain/Loss

Currency gain or loss happens when you deal with money in different currencies. When you issue an invoice in a foreign currency, changes in the exchange rate between the time you create the invoice and when you receive payment can lead to currency gain or loss. For example, if you invoice a customer for SGD 100 and the exchange rate to your base currency (MYR) is 3 MYR per SGD at the time of invoicing, you expect to receive 300 MYR. However, if the exchange rate changes to 4 MYR per SGD by the time you receive payment, you will receive 400 MYR. This increase in the amount you get due to the fluctuation in the exchange rate is known as a currency gain. 

Conversely, if you invoice a customer for SGD 100 and the exchange rate is 4 MYR per SGD at the time of invoicing, you expect to receive 400 MYR. If the exchange rate changes to 3 MYR per SGD by the time you receive payment, you will receive only 300 MYR. This decrease in the amount you get due to the fluctuation in the exchange rate is known as a currency loss. 

Learn How To

1. Enabled multi-currency and foreign currency gain loss

2. View Currency Gain/Loss

Firstly, ensure that you have enabled multi-currency and foreign currency gain loss

1. Click on Profile Picture, go to Company, and select Settings

2. Click on Currency and select Multi-currency

3. Enable Multi-currency and enable the module for handling multiple currencies

4. Click on Transaction and enable Foreign Currency Gain Loss

How to View Currency Gain/Loss?

5. Click on Sales and select Sales Invoices

6. Click on Invoice No. which is in a foreign currency and has already been fully paid.

(If you don't have any sales invoices in foreign currency, you may refer to: How to create a sales invoice in foreign currency ; 

If you don't know how to add a payment using foreign currency for sales invoices,  you may refer to: How to add payment for Sale Invoices when using foreign currencies)

7. Click on Journal Entries

8. You will see the currency gain here. Clicking on currency gain will help you navigate quickly to the ledger of currency gain/loss.

(Or you can click on Accounting and select Ledger. Then, click on the filter and select Currency Gain as the account)

9. You will see multiple invoices that have currency gain.

(To view multiple invoices that have currency gain loss, you may click on the filter and select Currency Loss as the account)

Related Guides on Foreign Currency

• To create a sales invoice in foreign currency, please refer to: How to create a sales invoice in foreign currency

• To add a payment using foreign currency for a sales invoice, please refer to:  How to add payment for Sale Invoices when using foreign currencies