Matching Invoice and Receipt with different currency

hant

Dear all,

Do you know how to solve this issue?

Our client has made a PO in USD and then received in USD but the invoice they received was in LCY. If we input this invoice in LCY, we cannot get the receipt lines. If we input the invoice in USD, we can get the invoice but the tax amount in LCY maybe differ with the amount in original invoice.

Your recommendation is highly appreciated.

Regards,

hant

johnson_alonso

Dear Hant,
If you talk about currency, you must consider that you put foreign currency of vendor in its card (on the foreign trade tab). Then don't forget to fill LCY code in tab general on G/L set up. I think you probably don't do it yet.


Rgds,
Johnson

hant

I did it. The issue is I cannot get receipt lines for this invoice because the invoice in LCY but the recept made in USD.

johnson_alonso

I think you use purchase invoice serated from purchase order, and your vendor's currency code always changes. As far as I know, if I use foreign CY (FCY) in the vendor card, my posted invoice and receipt are also in FCY but when I press F9, you will see that there is a purchase (LCY) field, to tell the exchange rate. I think that's the problem. Exchange rate must be set up first.


Rgds,
Johnson

hant

Yes, you are right. I use Invoice and Receipt seperately. I can make the invoice in FCY as same as Receipt but in actual the invoice issued in LCY and the amount converted from FCY to LCY is not equal as shown in the invoice (paper), especially the VAT amount due to it calculated automatically when you post the invoice then you cannot touch to change the VAT Amount (LCY) manually.

hant

We cannot change the currency code in PO if we made receipt for it.

Another question. How can we do adjust the cost for the item without quantity? When I do Positive/Negative adjustment, the system requires the quantity must not be zero.

Thanks in advance.

hant

johnson_alonso

Dear Hant,
you wrote:

We cannot change the currency code in PO if we made receipt for it.

you are correct if you post the PO with option receive and invoice. You can set currency either in PO or vendor card (if it will be a standard used by vendor) and also purchase invoice if you want purchase invoice separated in printing.

Another question. How can we do adjust the cost for the item without quantity? When I do Positive/Negative adjustment, the system requires the quantity must not be zero.

Have you tried to use auto. cost adjustment ? you have to do it if you want to adjust your cost without error.


Rgds,
Johnson

hant

I have to make invoice against more than 1 receipt so I cannot use "Receipt and Invoice" option. There are some receipts done (maybe for more than 1 PO) in a specific period and at the end of this period, the vendor will issue the invoice for the whole. That's why I have to use "get receipt lines" to match the invoice and receipts. The other issue is the PO maybe raised in different currency with Invoice and then we cannot get the receipt lines in Purchase invoice if the currency in receipt is different with the invoice currency. And it's normal in my country due to the exchange rate fluctuates much. That means the item quoted in USD but the invoice is in LCY based on the exchange rate at the date issuing invoice. We are looking for the solution for it.

I don't use Automatic Cost Posting option due to I don't want to mess up the transaction in G/L. I just want the cost to be posted when I run the batch job. Is my understanding correct?

Thanks,

hant

johnson_alonso

Dear Hant,
I am not so sure but I have tried. You set USD in purchase invoice if you don't want set USD in vendor card. then you use get receipt lines, after that you delete currency field in the purchase invoice.
If it still can't be done, you need to customize it except you don't use get receipt lines.

I think you can't do adjust cost if the item is empty in quantity although remaining qty is zero.

Rgds,
Johnson

hant

Regarding to the adjust cost, just make it simple like this: item A with quantity 10 available in stock and the total value is 100. At the month end we found that there are amount need to add to this value so the unit cost of this item is of 11 instead of 10 as above. How can I do adjust?

Thanks,

hant

johnson_alonso

Dear Hant,

Regarding to the adjust cost, just make it simple like this: item A with quantity 10 available in stock and the total value is 100. At the month end we found that there are amount need to add to this value so the unit cost of this item is of 11 instead of 10 as above. How can I do adjust?

The adjust cost is depends on your costing method set up.

rgds,
Johnson

hant

This is Average cost

johnson_alonso

Dear Hant,
I see that you have qty 10 unit with your item's value is 100, I also see that the item A will be 11, so the value become 110, it means that you need to run adjust cost after posting the 1 unit qty using positive adjustment to know the item A's unit cost or value. Also, you must remember that there won't be exists cost posted to G/L if you use positive adjustment in the item journal, but the item will have item ledger and value entries.


Rgds,

David_Cox

I can't see a problem, purchase Invoice is an Internal document?
Why not process the Invoice in USD, check the LCY values before posting and adjust the VAT if required "F9 - Statistics - VAT Amount", post the Invoice in USD, then apply and pay the Invoice with an LCY payment.

The Vendors Gets his Remittance Advice with LCY values only displayed!

Or am I missing something?

hant

When you press F9, you only see the VAT amount in USD. You just see the VAT amount LCY only after you post it and you cannot change anything at that point of time.

David_Cox

Option 1:
If this is a one off, just use your calculator and work out the LCY vat amount.

Option 2:
Create a function with a couple of variables to convert the values
GetLCYValue(FCYValue : Integer) : Decimal
PurchHeader.get("Document Type","Document No.");
Currency2.InitRoundingPrecision;
IF PurchHeader."Currency Code" <> '' THEN
ValueLCY :=
ROUND(
CurrExchRate.ExchangeAmtFCYToLCY(
GetDate,"Currency Code",
FCYValue ,PurchHeader."Currency Factor"),
Currency2."Amount Rounding Precision")
ELSE
ValueLCY :=
ROUND(FCYValue ,Currency2."Amount Rounding Precision");

EXIT(ValueLCY);

Textbox SourceExpr = getLCYValue("VAT Amount")
Textbox SourceExpr = getLCYValue("VAT Base")


Hope this helps

hant

Thanks a lot. I will try it.