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How to handle mutli-currency bank accounts on wingubox litebooks accounting application

multi currency interbank transfer

Interbank Transfers with different currencies

Say you have two bank accounts in different currencies; one is a Kenya Shilling account and the other is a dollar account.

Litebooks allows you to transfer money between the two easily with respect to the prevailing conversion rate. To perform this task, do the following:

  • On the menu, go to "Banking"->"Transactions"
  • Select the Kenya Shilling bank account
  • Click on "Add transaction"->"Transfer to another bank"
  • A pop up will appear with the KES bank account on the credit side
  • Enter the USD bank account on the debit side
  • This will trigger the conversion details to appear with the current conversion rates. You may always edit this and put your custom conversion rate.
  • Fill in the remaining details and click "Update Entry"