Since exchange differences occur on the one hand in posting of invoices received and issued
and in report posting on the other hand, such lines cannot be automatically closed. So as to close the posting
of the local currency amount, as
well as the foreign currency amount, you have to post exchange differences as
well.
Both the foreign currency and the equivalent local currency amount of invoices calculated according to the central rate
of the National Bank are posted to subject accounts and or the general ledger.
Payments are
normally made at the rate of
commercial banks. For additional explanation see
Monitoring
Foreign Currency Amounts.
How can you perform the procedure of posting exchange differences?
After the invoice and the subsequent payment have been posted, you can select the
function for automatically posting exchange
differences, opening the window which allows you to
enter restrictive criteria for reports. Data for restrictive criteria are taken
from journal entry lines:
Document Types
|
It is MANDATORY to select the type of transactions (journal entries), to which
debit and credit posts are related. |
Account
|
Select the code of the foreign currency account, where you want to determine and post
exchange differences. |
Subject
|
You can restrict the closing by a specific subject (customer or supplier). |
Document
|
You can restrict the
closing considering the data from the Document field in the journal entry
line.
|
Linked Document
|
You can restrict the
closing considering the data of the linked document from the journal entry line.
|
Currency
|
You can restrict the closing by a specific currency used in the post. |
Posted from
|
You can restrict the closing considering the
start date of period, during which the document was posted (from-to).
|
(Posted) To
|
You can restrict
the closing considering the end date of period,
during which
the document was posted (from-to).
|
Due (from - to)
|
You can restrict the
closing considering the document due date (from-to).
|
Document from
|
You can restrict
the closing considering the start document date from the journal entry line (from-to).
|
(Document) To
|
You can restrict
the closing considering the end document date from the journal entry line (from-to).
|
Contra account for exchange
|
It is MANDATORY to
enter the account, to which the exchange differences are to be posted.:
|
| Positive |
The account for posting of
positive exchange differences. Enter it by the first posting. It is
mandatory you enter the data otherwise an error message is returned already while trying to make a
calculation (see An account for positive/negative
exchange differences must be specified!).
|
| Negative |
The
account for posting of negative exchange differences. Enter it by the first
posting. It is mandatory to enter the data or the error message is
returned already
while trying to make a calculation (see An account for
positive/negative
exchange differences must be specified!).
|
 Subject Account
|
If checked, you
can try to determine exchange differences on subject
accounts (customers, suppliers...).
If it is unchecked, the program searches for exchange
differences also in records, which do not specifically belong to subject accounts.
|
|
Date for Open |
The date for which the
program should find the exchange rate used for calculation of exchange
differences in outstanding documents.Hence, it is to be used only if calculations
of exchange differences are performed in outstanding documents (see
Posting Exchange Differences in Outstanding Documents ).
The exchange rate list specified in the program
parameters as the National Bank's exchange rate will be used.
|
Calculation type
|
Select, whether exchange differences for
receivables (Customer) or payables (Supplier) are calculated. If there are
subject accounts involved, this data is offered automatically.
|
Document Status
|
Select, whether
you
are going to close:
- Open – the open documents, that is, those,
where the foreign currency amount has not yet been closed. Exchange
differences are in this way normally calculated only at the end of the
fiscal year.
- Closed – the closed documents, that is, those whose foreign currency
amounts are closed.
- All - with it you
select all documents.
|
Search
|
After the adequate restrictive criteria
are selected, you can click the Search button to continue with the
procedure. The program calculates in which documents exchange
differences occurred, regarding the information on the
amount posted and the amount paid. It then
opens the
window for posting of exchange differences .
|