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Vendor settlement - multi-currency transactions

Posted on by 25

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?

pastedimage1671618733495v1.png

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

Thanks,

Daniel

  • Suggested answer
    Daniel2008 Profile Picture
    Daniel2008 25 on at
    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 Profile Picture
    ThinkingRobot 5 on at
    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 Profile Picture
    Daniel2008 25 on at
    RE: Vendor settlement - multi-currency transactions

     BillurSamdancioglu appears to be greyed out too

    pastedimage1675148015768v1.png

  • Suggested answer
    BillurSamdancioglu Profile Picture
    BillurSamdancioglu 13,600 Most Valuable Professional on at
    RE: Vendor settlement - multi-currency transactions

    Hi,

    Can you please check from the other tabs.

  • Daniel2008 Profile Picture
    Daniel2008 25 on at
    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 Profile Picture
    Morgan Bazin 1,027 on at
    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 Profile Picture
    Daniel2008 25 on at
    RE: Vendor settlement - multi-currency transactions

    Hi BillurSamdancioglu, I can't seem to edit the 'cross rate fields' in yellow? 

    pastedimage1675113696825v1.png

  • Suggested answer
    BillurSamdancioglu Profile Picture
    BillurSamdancioglu 13,600 Most Valuable Professional on at
    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 Profile Picture
    Daniel2008 25 on at
    RE: Vendor settlement - multi-currency transactions

    Thank you BillurSamdancioglu - where is the exchange rate field when settling transactions?2022_2D00_12_2D00_22-12_5F00_04_5F00_38_2D00_Vendor-transactions-_2D002D00_-Finance-and-Operations.png

  • Suggested answer
    BillurSamdancioglu Profile Picture
    BillurSamdancioglu 13,600 Most Valuable Professional on at
    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.

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