# Manage a bank account in a foreign currency

> In Odoo, every transaction is recorded in the default currency of the company, and reports are all based on that default currency.

Fonte: https://docs.kmee.com.br/odoo/modulos/financeiro/conta-bancaria-em-moeda-estrangeira/

In Odoo, every transaction is recorded in the default currency of the company, and reports are all based on that default currency. When you have a bank account in a foreign currency, for every transaction, Odoo stores two values:

- The debit/credit in the currency of the *company*;
- The debit/credit in the currency of the *bank account*.

Currency rates are updated automatically using the web services of a banking institution. By default, Odoo uses the European Central Bank's web services but other options are available.

## Configuração

### Activate multi-currencies

To work with multiple currencies, go to **Accounting -> Configuration -> Settings -> Currencies** and tick **Multi-Currencies**. Under **Post Exchange difference entries in:**, provide a **Journal**, a **Gain Account**, a **Loss Account**, and then click on **Save**.

### Configurar moedas

Once Odoo is configured to support multiple currencies, they are all created by default, but not necessarily active. To activate the new currencies, click on **Activate Other Currencies** under the **Multi-Currencies** setting or go to **Accounting -> Configuration -> Accounting: Currencies**.

When the currencies are activated, you can choose to **automate** the currency rate update, or leave it on **manual**. To configure the rate update, go back to **Accounting -> Configuration -> Settings -> Currencies**, check **Automatic Currency Rates**, set **Interval** to your desired frequency, and then click on **Save**. You also have the option to choose the **Service** you wish to obtain currency rates from.

Click on the Update now button (**🗘**) besides the **Next Run** field to update the currency rates manually.

### Crie uma nova conta bancária

In the accounting application, go to **Accounting -> Configuration -> Journals** and create a new one. Enter a **Journal Name** and set the **Type** to `Bank`. In the **Journal Entries** tab, enter a **short code**, a **currency**, and then finally click on the **Bank Account** field to create a new account. In the pop-up window of the account creation, enter a name, a code (ex.: 550007), set its type to `Bank and Cash`, set a currency type, and save. When you are back on the **journal**, click on the **Account Number** field, and in the pop-up window, fill out the **Account Number**, **Bank** of your account, and save.

![Example of a created bank journal.](https://docs.kmee.com.br/odoo/referencias/img/applications/finance/accounting/bank/foreign_currency/foreign-journal.png)

Upon creation of the journal, Odoo automatically links the bank account to the journal. It can be found under **Accounting -> Configuration -> Accounting: Chart of Accounts**.

## Vendor bill in a foreign currency

To pay a bill in a foreign currency, simply select the currency next to the **Journal** field and register the payment. Odoo automatically creates and posts the foreign **exchange gain or loss** as a new journal entry.

![How to set a bill currency.](https://docs.kmee.com.br/odoo/referencias/img/applications/finance/accounting/bank/foreign_currency/foreign-bill-currency.png)

Nota

Note that you can pay a foreign bill with another currency. In that case, Odoo automatically converts between the two currencies.

## Unrealized Currency Gains/Losses Report

This report gives an overview of all unrealized amounts in a foreign currency on your balance sheet, and allows you to adjust an entry or manually set an exchange rate. To access this report, go to **Reporting -> Management: Unrealized Currency Gains/Losses**. From here, you have access to all open entries in your **balance sheet**.

![View of the Unrealized Gains/Losses journal.](https://docs.kmee.com.br/odoo/referencias/img/applications/finance/accounting/bank/foreign_currency/foreign-gains-losses.png)

If you wish to use a different currency rate than the one set in **Accounting -> Configuration -> Settings -> Currencies**, click the **Exchange Rates** button and change the rate of the foreign currencies in the report.

![Menu to manually change exchange rates.](https://docs.kmee.com.br/odoo/referencias/img/applications/finance/accounting/bank/foreign_currency/foreign-exchange-rates.png)

When manually changing **exchange rates**, a yellow banner appears allowing you to reset back to Odoo's rate. To do so, simply click on **Reset to Odoo's Rate**.

![Banner to reset back to Odoo's rates.](https://docs.kmee.com.br/odoo/referencias/img/applications/finance/accounting/bank/foreign_currency/foreign-reset-rates.png)

In order to update your **balance sheet** with the amount of the **adjustment** column, click on the **Adjustment Entry** button. In the pop-up window, select a **Journal**, **Expense Account** and **Income Account** to calculate and process the **unrealized gains and losses**.

You can set the date of the report in the **Date** field. Odoo automatically reverses the booking entry to the date set in **Reversal Date**.

Once posted, the **adjustment** column should indicate `0.00`, meaning all **unrealized gains/losses** have been adjusted.

![Unrealized Currency Gains/Losses report once adjusted.](https://docs.kmee.com.br/odoo/referencias/img/applications/finance/accounting/bank/foreign_currency/foreign-adjustment.png)