Magaya Software Accounting Manual

MULTICURRENCY REPORTS
Daily Journal: This report shows all transactions in a selected date range.
Sales Tax Liability: Summary or detailed report. This shows the tax authority
name, the tax rate, the amount of sales that period, the amount of the sales tax
collected during that period and the previous period, and the sales tax liability.
When you use the Actions button in the Chart of Accounts, you can select a
report for:
• Missing Checks: This report is available when you select a bank account.
Multicurrency Reports
The Multicurrency Reports show any gain or loss from business done in
different currencies.
You must have multiple currencies turned on in your Magaya system and transactions
conducted in those currencies in order to have any information appear
in one of these reports. If the exchange rate does not change or you do not
update it in Magaya Explorer, no changes will be reflected in the reports.
There are two types of Multicurrency Reports available:
• Realized Gains and Losses: This report shows transactions that have a
gain or loss that became realized (actual) because a payment was received
for an invoice that had a currency rate change or because you paid a bill
that had a currency rate change.
For example, you invoice a customer for 250 Euros when the Euro was
1.75. They pay the 250 Euros due, but the value of the Euro has decreased
to 1.60 on the date you make the deposit. The report will show a realized
gain for that account. If the Euro did not change, the report will not show
anything.
The columns in the Realized Report show:
– The Type of transaction such as Payment or Bill Payment
– The date of the transaction
– The transaction number
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