Vendor settlement - multi-currency transactions

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Posted on by Daniel2008

Hi all,

We have a vendor with multi-currency transactions that can be settled i.e. closed (Aging report attached).

The balance at 30 November is $8,560.72 so I created a journal transaction for same on 1 December to bring the balance to nil.

Is there a process to settle and close all these multi-currency transactions so there is no F/X differences?

[View:/cfs-file/__key/communityserver-discussions-components-files/765/Vendor-ageing-report-_2800_1_2900_-_2800_1_2900_.pdf]

Thanks,

Daniel

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Financial Management

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Daniel2008 25 on at

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RE: Vendor settlement - multi-currency transactions

Hi ThinkingRobot

We performed an AP revaluation first and then settled the transactions. We then journaled the balance to FX gain/loss.
ThinkingRobot 5 on at

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RE: Vendor settlement - multi-currency transactions

Hi Daniel, I am experiencing the same situation. How did you resolve this? Did you move ahead with the suspense account?
Daniel2008 25 on at

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RE: Vendor settlement - multi-currency transactions

BillurSamdancioglu appears to be greyed out too
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BillurSamdancioglu 13,600 Most Valuable Professional on at

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RE: Vendor settlement - multi-currency transactions

Hi,

Can you please check from the other tabs.
Daniel2008 25 on at

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RE: Vendor settlement - multi-currency transactions

I don't believe we are running the FX revaluation from the AP module on a monthly basis - we'll look into incorporating this step.

In the meantime, to clear all the transactions, I guess I can create contra transactions for the multi-currencies and clear via a suspense account - posting the difference to F/X?
Morgan Bazin 1,027 on at

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RE: Vendor settlement - multi-currency transactions

Are you running the FX Revaluation from the AP module on a monthly basis?

Ultimately, when you post the transaction, you will need to ensure that all transactions are being valued at the same exchange rate in order to clear the balance to nil.
Daniel2008 25 on at

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RE: Vendor settlement - multi-currency transactions

Hi BillurSamdancioglu, I can't seem to edit the 'cross rate fields' in yellow?
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BillurSamdancioglu 13,600 Most Valuable Professional on at

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RE: Vendor settlement - multi-currency transactions

Hi,

After you mark you can fill the cross exchange rate.

learn.microsoft.com/.../settle-transactions-with-payments
Daniel2008 25 on at

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RE: Vendor settlement - multi-currency transactions

Thank you BillurSamdancioglu - where is the exchange rate field when settling transactions?
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BillurSamdancioglu 13,600 Most Valuable Professional on at

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RE: Vendor settlement - multi-currency transactions

Hi,

If you want to do so, you can change the exchange rate on the transaction to fully settle.