Credit Memos and Exchange Rate

fmhigue

Hi fellows. This is my problem:

We post invoices in Pesos and USD. LCY is Pesos. My problem is on Invoices on USD. Because if we issue a credit memo for this documents, when we post it takes USD values and calculates using Current Exchange Rate.

Is this the right way to do it?
I would preffer to change it and post using transaction exchange rate. Where do I have to change this :?:

thank you

ara3n

on header you'll find the transaction exchange rate. Change that to what ever rate you want and you are set.

bbrown

I can't comment about the accounting rules and accepted practices (GAAP) in your country. In the US, this would not be an accepted practice. Foreign currency documents should be posted using the exchange rate in effect on the posting date. The variances in LCY between an invoice and its applied documents (payments/credit memos) is posted to the "Currency Gains/Losses" account.

I suggest you check your local accounting rules and practices before moving forward.

fmhigue

Well actually is the same here. But we you cancel an invoice you use actual exchange rate but Sales accounts and Customers Accounts must be cancel as issuing date, and use a lost or gain accounts.