apply payment against invoice using diff currencies

nostran

hi,

struggling a bit with following.

Process customer invoice $1000, amount in LCY 2000, i.e exchange 1$ = 2 LCY

Receive Payment, 1500 LCY, to be applied in full against invoice of $1000.
exchange rate defined in system is still 1$ = 2 LCY

what is happening right now in the system?
Bank is Debited with 1500 LCY, Debtors Control account is credited with 1500 LCY.
Customer account is credited by only $750, thought $1000 was applied

what would need to happen?
Bank acc debited with 1500 LCY
Debtor Control acc credited with 2000 LCY
Forex Loss Account Debited with 500 LCY
AND customer account is credited by $1000

Your help would be greatly appreciated
thanks

rsfairbanks

On journal line enter a payment to the customer for $1000 (and apply it) and change exchange rate to 1.5 (balance on line should be 1500 lcy)
Add next line for type of bank and value 1500lcy

Post - and all should be automatically taken care of.

nostran

hi Rs,

thanks for your suggestion. however there is one aspect i didn't mention, the user needs to issue a receipt of 1500 LCY to his customer. if i receive the money in $, the receipt will be in $ not LCY.

changing the report to read the amount in LCY is not feasible as the user does receive payment in $ as well.

dumb question, but is there a shortcut by which i can change the exchange rate being used on cash receipt journal line or on the apply invoice screen. when i am processing a customer invoice, on the foreign tab, there are three dots that i can use to set exchange rate.