Eur invoice - GL account made in USD

[Former Member]

Hi Expert

Our business runs in ZAR as the LC. We also have a USD account and the GL account for this account is set in USD. I now have a EUR AP invoice which needs to be paid from a GL account set in USD as the payment is made in USD.

Is there any work around for this?

Thanks

[former_member187989]

hi gustav,

Set G/L account to Multi Currency in chart of accounts.

Jeyakanthan

[Former Member]

Thanks, but this is not really the problem. The problem arises from the requirement for 3 currencies

LC = ZAR

FC = EUR

Now, in the system a Purchase Order raised in EUR, goods are landed and sold in ZAR, but the AP invoice is paid from a local-based USD account which needs to therefore show an outgoing payment to a EUR invoice based on a EUR-USD exchange rate, when the system currency is ZAR, so it normally only handles EUR-ZAR conversions.

Any ideas?

[JesperB1]

Hi Gustav,

The BP in the EUR AP Invoice is multi currency or single foreign currency BP(EUR)?

Jesper

[Former Member]

It's multi currency. The issue here is:

The bank account is USD, the PO is EUR, the LC is ZAR, but you can't allocate a USD outgoing payment amount to the EUR PO.

[Former Member]

Thanks. Making BP all currencies helped. Now the only issue is getting the exchange rate difference to post

There is a Exchange Rate Difference between ZAR (LC) to EUR (FC) on the purchase order side

There is a Exchange Rate Difference between ZAR (LC) to USD (FC) on the outgoing payment side linked to that PO. Thus the final ZAR amounts don't match in the journal entries.

Is there a way to automatically post/reconcile this difference to an allocated exchange rate gains and losses account?

Edited by: Rui Pereira on May 1, 2009 11:53 AM