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What is the Transaction Currency?

April 26, 2017currency transaction

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What is the Transaction Currency?

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The transaction currency is the currency in which the transaction originated, if this is different to the base currency. For example, if a British firm buying goods from America receives an invoice in US dollars (USD), the transaction currency would be USD and the base currency is probably GBP. The transaction currency value on a journal transaction can be held in any valid defined currency. A currency code must be entered to identify the transaction currency.