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Basic Multicurrency Question

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Posted on by john.ellis

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Hi:

The end user entered an invoice in a Canadian company but did so, accidentally, in US Dollars instead of Canadian Dollars.

Now, she needs to enter a credit memo in US Dollars to back out this invoice.

The problem, however, is that she does not know the correct amount (in US Dollars) to enter for the credit memo. Exchange rates fluctuate daily. So, we're having a hard time determining what rate to try and ultimately what amount to enter as the credit memo amount.

How do we figure this all out?

Thanks!

John

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Microsoft Dynamics GP

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Jeff Grant on at

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RE: Basic Multicurrency Question

Hi John,

The best bet may be just to void out the invoice and re-enter it to avoid any mess a credit memo may make if there was an exchange rate difference. If the credit memo is preferred you should be able to determine the amount to create the credit memo by populating the invoice from the Inquiry | Purchasing | Transaction by Vendor window, selecting View | Currency | Originating to see the $US amount of the invoice and if any revaluation had been performed. Then if you create the CM for the same originating amount and using the same transaction date you should be able to apply afterward without creating a gain/loss value.

Best Regards,

Jeff

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