Difference between revisions of "Dealing with currency accounting in Platinum?"
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You will need to stretch the local currency column which can be found on the right hand edge of the list in order to see local currency information. List columns can be stretched and shrunk as appropriate for the needs of individual users. Once changed the new look of the list is retained for the user when they return to the list at a later date. | You will need to stretch the local currency column which can be found on the right hand edge of the list in order to see local currency information. List columns can be stretched and shrunk as appropriate for the needs of individual users. Once changed the new look of the list is retained for the user when they return to the list at a later date. | ||
| − | Customer history | + | * Customer history |
| − | Supplier history | + | * Supplier history |
| − | Bank reconciliation | + | * Bank reconciliation |
| − | Nominal Review | + | * Nominal Review |
| − | Nominal Reconciliation | + | * Nominal Reconciliation |
Revision as of 15:31, 26 September 2017
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This article or section is under review. Be aware: Content may change as the document is reviewed. |
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This article or section is out of date and scheduled for a review. Be aware: Content may not match the current version of Platinum. |
Contents
Summary
Occasionally, you may have to deal with a supplier/customer in a different currency. The following article explains how to do this.
More Information
In this example, we are going to deal with the process of posting a purchase invoice and then paying it off.
Posting an Invoice/Credit Note
- Make sure the supplier has had the correct settings applied to their account.
- Post the purchase invoice onto the purchase ledger in the normal way.
- Enter the "Nett" amount in the supplier's currency and press <Alt+E>.
- The amount will be converted into your base currency.
- Press <F2> to choose the converted rate.
Posting the Payment
When the time comes to pay the supplier:
- Enter the "Payment" amount in the supplier's currency and press <Alt+E>.
- The amount will be converted into your base currency.
- Press <F2> to choose the converted rate.
It is assumed at this point that there has been a difference in the exchange rate from when the invoice was posted to when the invoice was paid.
- Post the payment as normal then return to the payment screen. Pay off the amount left, whether over or under, to a Nominal Code called Currency Fluctuation.
- if this code does not yet exist in your system please see this article to create a new code. If necessary seek advice from your accountant as to how to classify the code e.g. as a Profit & Loss Overhead, Profit & Loss Cost of Sale or other category.
View in local currency
It is possible to view transactions in local currency in the following locations within Platinum. This information is available but not immediately obvious because multiple currency is only a feature required by a minority of users of the software.
You will need to stretch the local currency column which can be found on the right hand edge of the list in order to see local currency information. List columns can be stretched and shrunk as appropriate for the needs of individual users. Once changed the new look of the list is retained for the user when they return to the list at a later date.
- Customer history
- Supplier history
- Bank reconciliation
- Nominal Review
- Nominal Reconciliation
See also
- How do I set up currency translation?
- How do I Add a New Currency?
- How do I View an Amount in a Different Currency?
- How do I Add a New Country?
- How do I Reconcile Foreign Currency Accounts?
