Dear Team,

We're facing an issue with journal entries related to foreign exchange transactions. Let me present the issue:

The transaction

We're selling USD 12,000 to one of our business partners (note that this is not our bank, but only one of our business partners), and in return receiving EUR 10,000.

The question

What will be the journal entry transaction for those 2 transactions (will be done through our bank account). Particularly:

Transaction # 1:

Dr: account X (USD what account?)

Cr: our bank account (USD 12,000)

Transaction # 2:

Dr: our bank account (EUR 10,000)

Cr: account X (EUR what account?)

The issue is that at the end of the day we need to clear the forex exchange balances for given business partner, and this is where we get stuck. If we could create an additional journal entry in the Sage X3 by debiting the above-mentioned X account in EUR and crediting the above-mentioned X account in USD, it would have solved the issue. But we can't find such a module in the Sage X3. Urgent help on this would be highly appreciated.

Thank You very much in advance.