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ReportHi GP Group,
I would like to present a GP scenario to you for your review and consideration:
1. Company A has functional currency of USD.
2. Company A buys product from Supplier B in USD and sells to Customer C in AUD.
3. Company A books a FEC USD:AUD to fix sale price so the transaction has the same USD value in sales and purchases terms.
4. Customer C pays AUD into Company A's AUD bank account.
5. Company A then delivers FEC, by drawing down AUD from the AUD bank account and pays Supplier B.
6. Company A processes payment in GP and applies payment in Payables.
7. At a USD functional level in Payables, the USD invoice and USD payment offset to nil for Supplier B, but you still have an AUD value at a transactional level outstanding from a GL point.
8. Company A's Payables Aged Trial Balance for Supplier B is nil.
9. Company A's Payable AUD GL value doesn't agree to the same AUD in the Summary Aged Trial Balance.
Company A has been advised by a GP provider this is a permanent difference that is unable to clear.
I've tried looking at this scenario at different angles to identify solutions but thus far no success
Appreciate if anyone in our GP Community has experienced the same or similar scenarios and how you approached to resolve, if possible or even other avenues to consider.
Thanks
Kevin
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