Your company has a legal entity in the UK, US, and Canada. They can all share the same chart of accounts but are required to transact and report in their local currency.
What is the minimum number of ledgers you need and why?
A. One, because they can all share the same chart of accounts
B. Three, because each requires a different currency
C. Two, because the US and Canada can share the same ledger because they are in North America
D. Four, because the UK has statutory requirements and you will need a separate ledger for statutory reporting
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Chart of accounts are same, using reporting currency.
A is correct.
You like being that guy, eh?
B