Receivables/SOP transactions in multicurrency

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Posted on by Jackie McNab

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I have implemented SOP/Receivables management in a multicurrency company. The customers are NOT maintained in the functional currency. Transactions are entered in the currency assigned to the customer, which is NOT the functional currency.

When viewing the customer balances, they are incorrect as the system appears to be converting the transactions to functional currency, and then reconverting to customer currency at the current exchange rate.

Can anyone explain why this is so and if there is any way to avoid this.

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Jackie McNab 214 on at

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RE: Receivables/SOP transactions in multicurrency

Thanks to you all for attempting me with this issue.

While not fully resolved, it appears that my problems were related to Multi Currency and revaluation of my sales transactions.

I have been able to do a revaluation and have some of my transactions and balances displayed on the ATB reports as I need them to, but there is still a group where the revaluation does not appear to work even though the process appears to have been successfully run. I will have to keep reviewing these transactions to see what is different with them.

Thanks for all your suggestions.

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babubaskaran@outloo... 12 on at

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RE: Receivables/SOP transactions in multicurrency

Hi Jackie,

Sorry for the delay in reply, if you don't mind please share the screen shot of the invoice. I suspect the document posted on originating currency but when you entering the transaction the view was set to functional currency. Please let us know this is the only one transaction having this problem.

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twelvestrikes 3,657 on at

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RE: Receivables/SOP transactions in multicurrency

Jackie

Maybe you can post some screen shots so we can get an idea of what is going on so that we can help you.

Regards

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Tami Farrelly 5,080 on at

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RE: Receivables/SOP transactions in multicurrency

There should be an option of viewing originating or functional currency on the menu bar

Tami

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Jackie McNab 214 on at

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RE: Receivables/SOP transactions in multicurrency

Hi Heather,

I was so hoping you were correct and that it is my customized report that is causing the problem but, unfortunately for me, It is not. I get the same results when I run the unmodified report.

Thanks for your response and If you think of anything else please let me know.

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Heather Roggeveen 9,146 on at

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RE: Receivables/SOP transactions in multicurrency

Hi Jackie

That seems incredibly strange to me. The Originating Currency shouldn't change at all. The functional should change for e.g. revaluation.

This potentially sounds like a report issue. Are the reports standard out of the box ones or ones that have been modified. I would say that if modified, there is potential that someone has got the calculation around the wrong way.

Can you check whether you are using a Modified Trial Balance? If so, do you see the same behaviour is you revert to the unmodified one?

Cheers

Heather

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Jackie McNab 214 on at

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RE: Receivables/SOP transactions in multicurrency

Hi Babu,

Thanks for responding. It seems that I have not been clear in articulating what my problem is. I am fine with viewing my data in both originating and functional currency and that is not the issue.

What is happening is that balance in the originating currency is changed in the new period because there is a different exchange rate, while the corresponding functional amount remains the same.

Because these customers are maintained in the originating currency, I need to have their originating balance remain the same across periods, even if there is a different exchange rate in the new period, and the functional amount should be recalculated at the new rate.

an example of this is:

Transaction at 31/5/16 entered in originating$ = $556,000.00

Exch. Rate at 31/5/16 .00865 (multiply)

Balance in functional $ = $4809.4

Each subsequent period when viewing reports in multicurrency, the $4809.40 remain the same and is being re converted at the new rate, which gives a different originating amount. This is the opposite of what needs to be done as I need to have the originating amount remain at the figure it was entered in and the functional $ displayed based on the applicable exchange rate.

I hope I have stated the issue clearly and let me know if I need to provide more information.

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babubaskaran@outloo... 12 on at

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RE: Receivables/SOP transactions in multicurrency

Hi Jackie,

The transaction can be viewed in functional currency or originating currency depending on what view option you selected. The functional currency value are based on the exchange rate you have setup. So the transaction can be seen only 2 currency one is originating currency if the transaction entered on customer currency and functional currency.

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twelvestrikes 3,657 on at

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RE: Receivables/SOP transactions in multicurrency

Hi Jackie

Use the Receivables Aged Trial Balance w/Options or the Historical Aged Trial balance

In the Exclude Section make sure that you have the Multicurrency info box unmarked so that Multicurrency info is included.

This will give you the totals for the customer in both originating and functional currencies.

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Jackie McNab 214 on at

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RE: Receivables/SOP transactions in multicurrency

Hi Jeffery,

Thanks for your quick response.

It is not the individual transaction information that is incorrect but the Customer balance in the Aged Trial balance. As this is the report that we rely on to get the customer balance I need to have the correct balance reflected there at all times.

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