Problem: How
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can I record a payment
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for an invoice when the invoice and payment currencies differ?
Solution:
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- invoice received is issued in the same currency as set in Company's Contract:
- Invoice received may be paid in a currency different from the currency of the document. For this purpose, create a payment document
in the currency of payment that is the same as the currency of the bank account/Petty Cash At Payment Details tab, choose Contract and Document (Invoice receivedAnchor
calculated automatically based on the exchange rate:
А) bank payment:
b) Cash payment:
Check your actions by generating reports.
It is possible to pay a document in a different currency. For example, if the invoice is in USD and the payment is made in AED, refer to the screenshot below for guidance on handling this situation.
The received invoice is issued in USD, which matches the currency specified in the company's contract.
Add all the relevant details, and post the document. The below will be created, USD 2,590,000 and AED 9,511,775.
Dr Goods
Cr Current Trade Payables
To record payment, create a Bank Payment document in the selected payment currency, ensuring it aligns with the currency of the designated bank account or petty cash.
In the Payment Details tab, select the appropriate contract and the Invoice received document. This will automatically calculate the corresponding amount in the contract currency using the current exchange rate.
3. Check your actions by generating report.
Or create a Statements of Accounts document.
Instead of a bank payment, a cash payment can also be created. Ensure that you use Petty Cash with the currency set to AED under Cash Account.
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#Purchase#Other currency#Payment