Difference between revisions of "Dealing with currency accounting in Platinum?"
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In this example, we are going to deal with the process of posting a purchase invoice and then paying it off. | In this example, we are going to deal with the process of posting a purchase invoice and then paying it off. | ||
| − | *[[Posting Purchase Invoices| | + | *[[Posting Purchase Invoices|POST]] the purchase invoice onto the purchase ledger in the normal way, but you must convert the currency to sterling before you post on the amount. |
| − | *When the time comes to [[Paying Suppliers| | + | *When the time comes to [[Paying Suppliers|PAY]] the supplier, perform a currency conversion at that day's rate and do a part payment. (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). |
| − | *Any amount left over, or over-paid needs to be paid off to a nominal code called Currency Fluctuation. For help creating a code, see [[How do I Create a Nominal Code?| | + | *Any amount left over, or over-paid needs to be paid off to a nominal code called Currency Fluctuation. For help creating a code, see [[How do I Create a Nominal Code?|HERE]]. |
| − | {{KB_Tags|Purchase, Invoice, Posting, currency, sterling}}{{ZN_Accounts}} | + | == 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?]] | ||
| + | |||
| + | {{KB_Tags|Purchase, Invoice, Posting, currency, sterling}} | ||
| + | {{ZN_Accounts}} | ||
Revision as of 09:54, 16 September 2013
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.
- POST the purchase invoice onto the purchase ledger in the normal way, but you must convert the currency to sterling before you post on the amount.
- When the time comes to PAY the supplier, perform a currency conversion at that day's rate and do a part payment. (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).
- Any amount left over, or over-paid needs to be paid off to a nominal code called Currency Fluctuation. For help creating a code, see HERE.
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?
