Tax Reporting Currency

This feature allows you to report taxes in a currency that is not the vendor currency or the functional currency. (This can be a requirement in some jurisdictions.)

The Tax Reporting currency fields appear on purchase orders, receipts, invoices, returns, credit notes, and debit notes only if the tax reporting currency for one or more of the tax group authorities is different from your functional currency and the vendor's currency.

Taxes are set up in Common Services

You set the tax reporting currency for taxes in the Tax Services module in Common Services.

You can change the tax reporting currency amounts in transactions

You can change the total tax reporting amount on the Taxes tab during transaction entry (along with the total tax amount). If you do change the tax reporting amount, you can use the Derive button on the Rates tab to derive the effective tax reporting exchange rate.