Receiving and Posting Invoices Issue

Receiving and Posting Invoices Issue

This page contains information that is specific to Slovenia. The general subject is applicable in many other countries and the general functionality may be the same, but some details require adaptation to country specifics.

1. Issuing Goods with a price in a foreign currency

When issuing goods or services in a foreign currency, the program will use:

• the currency in the Customer section of the Subjects register as the default currency
• the exchange rates of the bank entered in the Bank-Price List field of the General section of the Company panel (Settings | Administration Panel | Settings | Program Parameters | Company | General)  to convert the prices into the foreign currency. The Euro price and exchange rate will not be displayed directly in the document. If the Euro price is used, according to the pricing hierarchy, the foreign currency sale price will be converted using the selected exchange rates, on the date the goods are received. Of course, if the price from the document is listed in a foreign currency, it will not be recalculated.

2. Recalculating and Posting the Foreign Currency Value of an Issued Invoice

• The exchange rates of the bank entered in the Bank of Slovenia field of the General section of the Company panel (Settings | Administration Panel | Settings | Program Parameters | Company | General) will be used  for conversion into the local currency.
• The date used as a criteria for the exchange rates is usually the date of the invoice, but can be set in the General section of the Goods panel  (Settings | Administration Panel | Settings | Program Parameters | Goods | General).

3. Posting Invoices Issued

In the chart of accounts, you can also define which account amounts in foreign currencies will be posted to.

Using the automatic posting of invoices issued, create a journal entry. In the line for posting to the currency account, (1210, for example), you'll find additional information including the code of the currency of the post and the appropriate exchange rate. The program will display the currency in which the document was created and the exchange rate from the document.

The customer's deposit will be paid using different exchange rates (for example, the sale rate of the commercial bank). The line will be closed in the foreign currency and Euro sections only once you've posted exchange rate differences.