>I am developing a system which has, among other functions, the normal accounts payable and accounts receivable functions. The peculiarity (at least to me) will be the requirement to handle both Canadian and U.S. currencies in the A/R and A/P transactions. Some vendors will invoice and be paid in Canadian, some in U.S.. Some customers will order and pay in Canadian, some in U.S.
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>I have considered having 2 screen input fields for each transaction, using one if Canadian, another if U.S.. I have considered using one screen input field with an accompanying code field (enter code 1 if Canadian, enter code 2 if U.S.). I have considered other approaches but all seem too cumbersome.
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> Is there some type of standard methodology for handling multiple currencies when inputting transactions?

Pamela,
I've had to go through the same sort of thing here. I have a table that has the current day's rates placed into it. The program checks for the current rate, uses that to store the equivalent currency amounts, one field holding US dollars, another field holding the CA dollars, and I also store the rate for that transaction in the same table. If my rate table has no rate for that day, I use the previous day's rate. My client table has fields that tell me what currency the client was billed in, and what currency they pay in, so I don't have to ask for input from the data entry person. Everything happens programmatically, and I don't have to rely on the math skills from the operator.
I can also report in US or CA dollars, for example, and use the same logic for aging reports.

HTH,
Brad