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Multiple Account for exchange Rate Difference

Dear Experts,

I'm having below scenario :

1) My company's client is divided into two types of clients : Trade and Non-Trade

2) For each type, when it involve exchange rate gain/loss, we want to post it to different account

Example :

Trade Client : Loss Account = Account A

Gain Account =Account B

Non Trade Client : Loss Account = Account C

Gain Account =Account D

3) We are using standard G/L Account Determination, thus we only have one option for gain/loss account.

Currently we only can setup for Account A, and Account B, of course this setting will overwrite to Non Trade Client also.

4) Thus we are thinking to change our G/L setting to Advance G/L Account Determination because it is more flexible and we can group our account setting based on the determination criteria.

However, when we do testing, we only can find column 'Price Different Account' for exchange rate difference, but we have different account for gain/loss

We note that, if we left this blank, the setting will capture account based on the standard setting.

Any advise for this issue?

Thank you in advance

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2 Answers

  • Posted on Jun 17, 2019 at 04:10 AM

    Dear MD Amall,

    You can achieve your scenario with advance GL account determination easily.

    Else,

    Create Project or Cost centre as Trade and Non Trade coz based on that you can generate report to get that amount transaction wise.

    Hope above will work for you and test in in TEST DB first then only apply it in LIVE DB.

    Best Regards,

    Sandesh Shinde

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  • Posted on Jun 24, 2019 at 08:17 PM

    Dear

    Post gain and loss in one account and develop a report to segregate based on groups and other requirements then post it in to relevant GL accounts

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