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Secondary currency for AR and AP
ddinh
Member Posts: 23
Dear all,
I have this issue relating to the secondary currency as below. Could you please share your experience if you have solution:
- We setup the company using basic currency is USD and second currency is Euro
- on 01/12/2011 we post an AR invoice in USD let say 2000 USD it is equivelant to 1500 Euros (assumed the rate 1 USD = 0.75 Euro). So in GL posting we have
Debit AR 2000 USD and secondary currency 1500 Euros
Credit Sales: 2000USD and secondary currency 1500 Euros
- on 15/12/2011 we received the payment from customer 2000 USD but the rate at that day is 1 USD = 0.8 Euro.So in GL posting we have
Debit Bank 2000 USD and secondary currency 1600 Euros
Credit AR: 2000USD and secondary currency 1600 Euros
You can see that the balance of the AR ledger account in USD is 0 but the secondary currency Euro is still -100 Euros.
Could you please let me know if we have any way to enter the secondary exchange rate when we post the payment journal in order to clear the AR balance in both USD and Euro.
I saw the secondary exchange rate in the payment form but that doesn't affect. The system still takes the exchange rate from Exchange rate defined in GL module.
Appreciate your soonest feedback.
Many thanks,
Dinh
I have this issue relating to the secondary currency as below. Could you please share your experience if you have solution:
- We setup the company using basic currency is USD and second currency is Euro
- on 01/12/2011 we post an AR invoice in USD let say 2000 USD it is equivelant to 1500 Euros (assumed the rate 1 USD = 0.75 Euro). So in GL posting we have
Debit AR 2000 USD and secondary currency 1500 Euros
Credit Sales: 2000USD and secondary currency 1500 Euros
- on 15/12/2011 we received the payment from customer 2000 USD but the rate at that day is 1 USD = 0.8 Euro.So in GL posting we have
Debit Bank 2000 USD and secondary currency 1600 Euros
Credit AR: 2000USD and secondary currency 1600 Euros
You can see that the balance of the AR ledger account in USD is 0 but the secondary currency Euro is still -100 Euros.
Could you please let me know if we have any way to enter the secondary exchange rate when we post the payment journal in order to clear the AR balance in both USD and Euro.
I saw the secondary exchange rate in the payment form but that doesn't affect. The system still takes the exchange rate from Exchange rate defined in GL module.
Appreciate your soonest feedback.
Many thanks,
Dinh
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