In the Manage Multicurrency Accounts screen. follow your company's procedures to assign the gain and loss accounts and organizations.

If your company uses Ref 1 and Ref 2 as additional data entry fields, you can assign reference numbers to the gain and loss fields in the Reference No block. These settings determine the posting location of gains and losses on currency transactions.

Costpoint compares the "cost of yen" on the date you post this invoice and then again on the date you enter a cash receipt. (Run the Update Open Accounts Receivable Exchange Rates process before posting invoices and before posting cash receipts.) The difference in the amount of your functional currency needed to bill this invoice and the amount of the cash receipt is either a realized gain or loss. In our example, if it cost 200 USD to "buy" the 24,000 yen necessary to pay this invoice on the date you posted the bill and it cost 230 USD to "buy" the same yen amount when the cash receipt is posted, the realized loss on the transaction is 30 USD. For more information on currency gains and losses, see Manage Exchange Rates.