Associating a foreign currency with an accounting object

Abstract

Companies often have to account for their transactions in one or more foreign currencies. However, accounting for different transactions in multiple foreign currencies typically required the creation of one or more accounts for each foreign currency in which a transaction was completed. Consequently, the present invention provides a method and apparatus that automatically associates a foreign currency with an object, such as an account or transaction form. First, a name is received from a user 602. Next, an association between the name and the foreign currency is determined 604, wherein the foreign currency is different from a home currency. Then, the object is automatically associated with the foreign currency associated with the name 608.

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