Home » Categories » Solutions by Business Process » Finance » Currency |
Application Differences - Sales & Purchase Ledgers - Entering Payments and Payment Adjustments |
Article Number: 839 | Rating: 5/5 from 1 votes | Last Updated: Tue, Jun 13, 2023 at 1:01 PM
|
Datafile Software Application Differences - Sales & Purchase Ledgers - Entering Payments and Payment Adjustments For payments on non-base rate currency accounts, the same total value, exchange rate, converted value and fixed rate questions are asked as for other transactions described above. The bank account chosen is that given as the default for the currency chosen.Either a bank account for the currency concerned or a base currency bank account may be chosen here. You cannot choose a bank account for a different currency, however. At present, should you wish to settle a foreign currency account in other than its specified or base currency, then you will need to define "internal” bank accounts against which to make the payment — either in the currency of the account or in the base currency. Make a payment to the account in the usual way, and separately (in the nominal ledger or cashbook) enter the third currency received and contra to the internal bank account. Internal accounts should have a zero balance, so any non-zero value can be written off to exchange differences at the end of the period. Note Making payments through the cashbook makes life simpler, because the operation can be done in one step. Enter a zero-valued transaction against a pre-defined internal base currency bank account. The account currency value can then be posted as one transaction, with the currency received as a second, negative-valued, transaction to the bank account in which it was banked. Any difference can now be written off to the exchange differences account as a third element of this transaction. |
Attachments
![]() There are no attachments for this article.
|
Currency Reports
Viewed 1125 times since Tue, Jun 26, 2012
Application Differences - Sales & Purchase Ledger Revaluations - Holding Rate Revaluation
Viewed 1265 times since Tue, Jun 26, 2012
Select Key Definition
Viewed 1243 times since Tue, Jun 26, 2012
Application Differences - Sales & Purchase Ledgers - Allocating Transactions
Viewed 1143 times since Tue, Jun 26, 2012
Application User Facilities - Currency Maintenance
Viewed 1626 times since Tue, Jun 26, 2012
Document Design Manager
Viewed 1120 times since Tue, Jun 26, 2012
Application Differences - Nominal Ledger Revaluations - Revalue a Nominal Account
Viewed 1207 times since Tue, Jun 26, 2012
Clear Old Rates
Viewed 1094 times since Tue, Jun 26, 2012
Converting Existing Ledgers - Nominal & Cashbook - Database Profiles
Viewed 1264 times since Tue, Jun 26, 2012
Controls & Audit Manager
Viewed 1199 times since Tue, Jun 26, 2012
|