Transaction currency

In accounting, transaction currency means the currency a single transaction is denominated in — the invoice's currency, which may differ from the entity's functional currency.

Layer: Lexicon
Defined in: Lexicon
Nearby: 4

Authority

This definition follows ASC 830-20.

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What it is not called

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functional currency
local currency

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Journal entry for a realized foreign exchange gain or lossBook a foreign-currency invoice at the rate on the invoice date. When it is collected at a different rate, debit Cash for the dollars received, credit Accounts receivable for the dollars originally booked, and book the difference as a realized foreign exchange gain or loss.Entry

Defined in Lexicon. This page is generated from that document, so the two cannot disagree.