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|Post]] the purchase invoice onto the purchase ledger in the normal way | + | === Posting an Invoice/Credit Note === |
| − | + | * Make sure the [[How do I Deal with Purchases from EU Countries and V.A.T. Reporting?|supplier]] has had the correct settings applied to their account. | |
| − | * | + | * [[Posting Purchase Invoices|Post]] the purchase invoice onto the purchase ledger in the normal way. |
| + | ** Enter the {{DataPrompt|Nett}} amount in the supplier's currency and press {{KeyPress|A-E}}. | ||
| + | ** The amount will be converted into your [[How do I set up currency translation?|base currency]]. | ||
| + | ** Press {{KeyPress|F2}} to choose the converted rate. | ||
| + | |||
| + | === Posting the Payment === | ||
| + | When the time comes to [[Paying Suppliers|pay]] the supplier: | ||
| + | * Enter the {{DataPrompt|Payment}} amount in the supplier's currency and press {{KeyPress|A-E}}. | ||
| + | ** The amount will be converted into your [[How do I set up currency translation?|base currency]]. | ||
| + | ** Press {{KeyPress|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 [[How do I Create a Nominal Code?|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. | ||
== See also == | == See also == | ||
| Line 15: | Line 29: | ||
* [[How do I Add a New Country?]] | * [[How do I Add a New Country?]] | ||
| − | {{KB_Tags|Purchase, Invoice, Posting, currency, sterling}} | + | {{KB_Tags|Purchase, Invoice, Posting, currency, sterling, exchange rate, convert, conversion, fluctuation, euro, GBP, dollar}} |
{{KB_SL}}{{KB_PL}}{{ZN_Admin}} {{Hint}} {{ZN_Accounts}} | {{KB_SL}}{{KB_PL}}{{ZN_Admin}} {{Hint}} {{ZN_Accounts}} | ||
Revision as of 09:44, 19 September 2017
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 {{KeyPress|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.
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?
