Choose payment currency method
Payment currency method will tell how exchange rate on invoices and credits in foreign currency should be handled when payments are done. The value of the invoice or credit linked to a payment could be calculated based on the historic rate on the transaction, or based on the rate of the day the payment was done in the bank.
Choose method
Choose method in the Company Setting Values (CSV) application.
Write CSV in the program field and press ENTER.
In the Company Setting Values Search field, write PaymentCurrencyMethod and press ENTER.
Choose between BANKDATE and HISTORIC in the dropdown menu.
Bankdate
Payment will be calculated based on the rate of the day the payment was done in the bank.
Currency losses and gains will be calculated at period closing, with agio calculations.
The differences in currency payments will be posted on an account that is set up at ACD/EXCHANGE.
Historic
Payments will be calculated based on the historical rates on the transaction. It will be a new field in the Pay Item window, CurAdj,XXX in the Amounts area. This field show the currency deviation according to historical rates. The CurAdj,XXX field has an inspect feature, which allows you to go to a report showing currency loss / gain on the selected invoice and credit note that is linked to the payment.
The value in the CurAdj,XXX field will be posted on an account that is set up at ACD/PAYCURADJ.