Currency Bank Account


Vantage 6.1

Base Currency Sterling.

Our company has recently purchase some dollars for an upcoming

In terms of modelling this in vantage I was thinking of the following;

Master File setup.(currency already setup)(using the this method, as
to pay suppliers in dollars)

1. Create GL account . E.g. Dollar Account
2. Create a Bank. e.g. Dollar Bank > Currency Dollars

Process - Currency Purchase

1. Bank Transfer - Bank Sterling > Bank Dollar for £x

This seems to work ok. The problem I have is to with the currency
exchange rate in Vantage. If the exchange rate in vantage matches the
exchange rate used in the purchase of dollars , then is it ok.

However, if it does not.... which could be down to rounding errors or
actual differences in the rates. How do get the correct amount
dollars in the bank accout, assuming the setup is correct.

Vantage Exchange rate £1 > $1.50
Actual Exchange rate £1 > $1.55

How do I get the $0.05 into the dollar account. Do I just do a bank
adjustment against the exchange loss/gain account? Is this a good
idea in accountancy terms?

Thanks in advance