Foreign exchange transfers

Let's assume your main currency in bexio is «CHF» and you have the following bank accounts:

• 1020 bank account CHF
• 1025 Revolut EUR
• 1026 Revolut USD

The issue with foreign exchange transfers

If you transfer money from your 1025 Revolut EUR account to your 1026 Revolut USD account, by default Accrio will only send one journal booking to bexio in USD:

Debit	Credit	Text	Main Currency	Foreign Currency
1025	1026	Currency Transfer	521.33 CHF	500 USD

This will create the issue, that your 1025 Revolut EUR account will be impossible to reconcile, since

• it will only display the amount in CHF or USD, but not in EUR.
• the currency conversion is most likely not correct, since the conversion rate is not taken into account.

Solution

To solve this issue, we create a transfer account in bexio and route our foreign exchange transfers through this account.

1. Create a new account «currency conversions» in bexio
2. Make sure the file settings in Accrio are set up correctly
   • The field card currency is set
   • The field original currency is set
3. Create / edit the transaction rules in Accrio (only those that are relevant for foreign exchange transfers)
   • Set the field currency conversion account to the account you created in step 1.

Result

Accrio will now create two journal bookings in bexio. The EUR account as well as the USD account will be reconcilable, since both contain only bookings in one currency.

Debit	Credit	Text	Main Currency	Foreign Currency
1025	transferacct.	Currency Transfer	519.20 CHF	510 EUR
transferacct.	1026	Currency Transfer	521.33 CHF	500 USD