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When traders change currency

This situation normally occurs when an existing customer or supplier changes from their existing currency to the euro currency. When an existing customer or supplier changes currency, there will be a period of time when transactions are still outstanding on the existing account in the original currency, but new transactions must be raised in the new currency.

What do you need to do

Create a duplicate account for the customer or supplier, copying across all the customer or supplier details (not the account transactions).

Enter a new account reference for the duplicate account.
Select the new currency for the account.

You can either select Make a euro duplicate when duplicating the account, if the account is to use euro currency, or select the required currency by amending the account once you have created it.

Place the original customer or supplier account on hold, so that you cannot accidentally process new transactions against it.

Continue to process existing transactions on this account until they are fully paid.

When all existing transactions are fully paid, do not use this account again.

Raise new transactions on the duplicate account.