Using multi-book for the first time and have a question for those that have implemented this functionality.
Scenario: Our base currency is in MXN and the default book is MXN. We want to have a second book for USD. Everything will be the same in both books, COA, fiscal periods, posting rules, etc. The only difference will be currency.
I think all that I need to do is in the second book (the USD book) is under the posting tab in Book maintenance select the MXN book as the source book, use source GL Account and enable all for the GL Transaction configuration. My question is related to transactional currency. I think this should be set to Use Source Book’s currency…and then the currency translation will occur within the USD book since I have this book set to USD.
Am I on track here? Or am I missing something?
TIA