Dealing with currency accounting in Platinum?

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?
• How do I Add a New Country?

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Keywords AND Misspellings

Purchase, Invoice, Posting, currency, sterling