How to Add Foreign Currency in Sage 50 Software

How to Add foreign Currency in Sage

If you are using Sage 50 software for your businesses and wondering of how to set up foreign currency for functioning on the account, then we will help you out to “add foreign currency in Sage“.

Foreign Currency in Sage 50 Accounting Software

This permits you to generate foreign currency bank accounts, add foreign value to your service and inventory items, receive payments and pay bills without manually converting the amounts to another currency and exhibit reports with totals in both the foreign currency and the correspondent in your home currency.

Setting up Multi-Currency in Sage:

  • Open Setting >> Activate Multi-Currency >> select Company >> Change Company Settings
  • Select Multi-Currency tab
  • Select the Enable Multi-Currency check box to activate >> then select Home Currency in drop down menu

How to Modify Foreign Currency in Sage Accounting:

Modify one foreign currency:

  • Open Setting >> Click on Company << then click on Currency
  • Enter currency Symbol to any or all of the following:
  • ($) Dollar: ALT+036
  • (£) Pound: ALT+0163
  • (¥) Yen: ALT+0165
  • (€) Euro: ALT+0128
  • Enter symbol position – Leading (in front of number) or Trailing (behind number)
  • Thousands separator
  • Decimal Separator
  • Click on OK

Modify multiple foreign currency:

  • Open Setting >> Click on Company << then click on Currency
  • Enter currency Symbol
  • ($) Dollar: ALT+036
  • (£) Pound: ALT+0163
  • (¥) Yen: ALT+0165
  • (€) Euro: ALT+0128
  • Symbol Position – Click Find and select either Leading (in front of number) or Trailing (behind number)
  • Thousands Separator
  • Decimal Separator
  • Click on OK

Steps to Add Foreign Currency in Sage 50 Accounting:

☑ Solution 1:  To add a Foreign currency to your account:

  • Go to Home window > Click on the Setup menu > Choose Settings > Click to Company and then click Currency
  • On the Foreign Currency new column > click Find > choose the currency you desire to add and press Select
  • If you allow this foreign currency with your account in the Merchant Acct > choose the specific merchant account so that the account is automatically selected for payments made with this currency.
  • Each merchant account can be connected to multiple foreign currencies
  • Click OK.

☑ Solution II: To add foreign currency bank accounts

  • Go to Home window and then select the Accounts icon
  • Choose a present  bank account, and then click on the toolbar, and then click the Create button
  • To modify, enter the number, then type the name for this account
  • Choose the Account tab and select the Subgroup Account
  • Click the Class list and choose Bank for the account category. Choose the type of currency used for the particular bank account and type any other details you require.
  • Shutdown the window, your record will be added automatically.

☑ Solution III: The Pro version only permits one additional foreign currency

  • Click Setup, and then click Settings
  • Choose the Company, then select the Currency
  • Highlight the option “I want to mention transactions by using Foreign Currencies”
  • Enter the information about your currency”, choose an Expense Account to “Track Rounding Differences and Exchange
  • Choose the Foreign Currency from the section
  • Fill up all necessary fields
  • For entering an exchange rate for new currency click on the Exchange Rate button
  • Click OK

☑ Solution IV: The Quantum or Premium can have limitless currencies

  • Click  Setup, and then select Settings
  • Click on the Company, then select Currency
  • Highlight in the option “Permit transactions in a Foreign Currency”
  • Choose an Expense Account to “Track Rounding and Exchange Differences”
  • Press on the Find icon in the Foreign Currency column and then choose the currency you desire to add, then press on the Select button
  • Make sure that all the settings are accurate for this new currency
  • Enter the exchange rate for the fresh foreign currency by simply clicking on the Exchange Rate option
  • And then Click OK

Gain the benefit of our support service for Sage support service

If you face any further complexity even after following the above solutions then immediately look for support from our technical proficiency to solve the issue “Foreign Currency in Sage”. They are knowledgeable in troubleshooting any type of errors and delivering the best resolution in sage software. To connect with our technical team, chat via Sage Live Chat Support. Also, you can call at our technical Support Toll-Free Number +1800-986-6931 available for 24×7 to get your error fixed in limited time.

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