Set the base currency for an entity

If you have enabled multiple base currencies, you can set up a separate base currency, or operating and reporting currency, for each entity in your company. After you enable multiple base currencies, each entity in your company automatically inherits the base currency you originally specified on the Company information page. The inherited base currency applies to those entities that have a transaction history.

About the base currency

The base currency is the operating and reporting currency for an Intacct company or entity. For example, a UK entity operates in the base currency of GBP, while a US entity operates in the base currency of USD. You run reports for the UK entity in GBP and for the US entity in USD.

You can choose to assign a different base currency to each entity in your multi-entity company. You do this by first enabling multi-base currencies and then enabling a separate base currency for each entity as needed.

When you can change the base currency

You can change the base currency only in new entities with no recorded transactions. For example, you can alter the base currency in any new entities you add in the future. Each new or transactionless entity can have a different base currency, if you so choose.

You can only enable multiple base currencies in a multi-entity company.

Before you begin

Before you set another base currency in a new entity, do the following:

1. Set up multiple currencies.
2. Enable multiple base currencies for the multi-entity company.
3. Create a new entity.

Set the base currency

You can edit the base currency for an individual entity after enabling multiple base currencies in the Multi-Entity Management page and creating a new entity. If your multi-entity company has only one base currency, then the base currency setting remains on the Company Information page.

1. Go to Company > All > Setup > Configuration > Entities.
2. Select Add to create a new entity.

   Alternatively, select Edit to edit an entity that has recently been created and has no transactions.

3. In the Accounting section, select the Base currency dropdown list, and select the currency you want to use as the base.

   If your currency is not defined, see Add, edit, and view transaction currencies for details on defining a currency in Sage Intacct.

4. Select Save.

Field description

The following tables describe the fields on the Currency and format setup page:

Currency section

Field	Description
Currency code	The base or transaction currency you use in your company.
Currency name	The official name of the currency selected in Currency code.
ISO-4127 numeric code	The official ISO code for the currency selected in Currency code.

Format section

Field	Description
Currency format	The country standard format you want to use on your company documents. Automatically updates when you change the currency code.
Currency unit	Common name of your currency unit such as Dollars or Euros.
Currency subunit	Common name for the most common division for the currency, such as cents for dollars or pence for pounds.
Currency symbol	The symbol used to designate the currency, such as $, €, or £.
Thousands separator	The character, such as a comma or period used to separate thousands. This has no mathematical impact, but helps the reader distinguish large values.
Decimal separator	The character, such as a period or comma used to separate the main units from the subunits.
Numbering system	Shown only for certain currency formats, such as the Indian Rupee format.
Alignment	Controls whether the currency symbol is displayed to the left or the right of the number.
Currency sample	Shows a sample value with the current format settings.