It is important to know that when you maintain a Party ledger in a foreign currency, the option Maintain balances bill-by-bill provided for maintaining bill-wise details does not appear because maintaining bill-wise details is available only for the base currency. Therefore, when the Party ledger is maintained in a foreign currency, the option to specify the Default credit period also does not appear.
As you can see below, the option Maintain balances bill-by-bill does not appear for The Bounderby Manufacturing Company, which has $ as the currency.
In TallyPrime, you can maintain ledgers in any currency. You can select the required foreign currency while creating the ledger. However, if the required foreign currency is not available already, then you can create it. Click on the link to know how to create a currency in TallyPrime.
We advise you to maintain the currency of the ledger as the base currency. Moreover, maintain the ledgers in foreign currency only if you want the ledger balance to be shown in foreign currency. You will generally need it to maintain the foreign bank accounts in the foreign currency.
You can always record the transactions using the foreign currency even if the ledger is maintained in the base currency.