Verify Multicurrency Flow

[Akash Jain]

Hello All,

I have verified multi-currency flow for SO and PO, here is the detail:

PO: Company currency is USD and Supplier currency is EUR, then,
-- order created in supplier currency
-- inventory cost of products are company currency after receiving products.
-- invoice created in supplier currency
-- payment created in supplier currency
-- accounting transactions (for Purchase Invoice, Outgoing Payment and Payment
Applied types) posted in company currency.

I think this flow is working as expected, please confirm?

SO: Company currency is USD and Customer currency is EUR, then,
-- order created in customer currency
-- invoice created in customer currency
-- payment created in customer currency
-- accounting transactions (for Sales Invoice and Payment Applied types)
posted in company currency.
-- accounting transactions for *Incoming Payment* type posted in *customer*
 currency.

Just want to confirm that, is it expected behaviour OR incoming payment
transactions should also be posted in company currency (USD) for SO.

Thanks in advance for your reply!

Thanks and Regards
--
Akash Jain
www.hotwaxsystems.com
www.hotwax.co

[James Yong-2]

Hi Akash,

Please see my reply inline.

Regards,
James Yong

On 2017-10-23 13:48, Akash Jain <[hidden email]> wrote:

> Hello All,
>
> I have verified multi-currency flow for SO and PO, here is the detail:
>
> PO: Company currency is USD and Supplier currency is EUR, then,
> -- order created in supplier currency
> -- inventory cost of products are company currency after receiving products.
> -- invoice created in supplier currency
> -- payment created in supplier currency
> -- accounting transactions (for Purchase Invoice, Outgoing Payment and Payment
> Applied types) posted in company currency.
>
> I think this flow is working as expected, please confirm?

Yes.

>
> SO: Company currency is USD and Customer currency is EUR, then,
> -- order created in customer currency
> -- invoice created in customer currency
> -- payment created in customer currency
> -- accounting transactions (for Sales Invoice and Payment Applied types)
> posted in company currency.
> -- accounting transactions for *Incoming Payment* type posted in *customer*
>  currency.
>
> Just want to confirm that, is it expected behaviour OR incoming payment
> transactions should also be posted in company currency (USD) for SO.

It should be posted using company currency

>
> Thanks in advance for your reply!
>
> Thanks and Regards
> --
> Akash Jain
> www.hotwaxsystems.com
> www.hotwax.co
>

[Vaibhav Jain]

Hello Akash,


>>Just want to confirm that, is it expected behaviour OR incoming payment
>>transactions should also be posted in company currency (USD) for SO.
If the transactions are recorded in home currency, the rate at which the
foreign currency is exchanged should be recorded as well.
OR
You need to record the transaction in the foreign currency itself when you
maintain the balance of the concerned account in foreign currency.

Thanks & Regards
--

Vaibhav Jain
Hotwax Systems,
[hidden email]

On Mon, Oct 23, 2017 at 11:18 AM, Akash Jain <[hidden email]>
wrote:

> Hello All,
>
> I have verified multi-currency flow for SO and PO, here is the detail:
>
> PO: Company currency is USD and Supplier currency is EUR, then,
> -- order created in supplier currency
> -- inventory cost of products are company currency after receiving
> products.
> -- invoice created in supplier currency
> -- payment created in supplier currency
> -- accounting transactions (for Purchase Invoice, Outgoing Payment and
> Payment
> Applied types) posted in company currency.
>
> I think this flow is working as expected, please confirm?
>
> SO: Company currency is USD and Customer currency is EUR, then,
> -- order created in customer currency
> -- invoice created in customer currency
> -- payment created in customer currency
> -- accounting transactions (for Sales Invoice and Payment Applied types)
> posted in company currency.
> -- accounting transactions for *Incoming Payment* type posted in *customer*
>  currency.
>
> Just want to confirm that, is it expected behaviour OR incoming payment
> transactions should also be posted in company currency (USD) for SO.
>
> Thanks in advance for your reply!
>
> Thanks and Regards
> --
> Akash Jain
> www.hotwaxsystems.com
> www.hotwax.co
>

[Akash Jain]

Thanks Vaibhav for your reply!

comment inline..

Thanks and Regards
--
Akash Jain

On Tue, Oct 24, 2017 at 10:24 AM, Vaibhav Jain <
[hidden email]> wrote:

> Hello Akash,
>
>
> >>Just want to confirm that, is it expected behaviour OR incoming payment
> >>transactions should also be posted in company currency (USD) for SO.
> If the transactions are recorded in home currency, the rate at which the
> foreign currency is exchanged should be recorded as well.
> OR
> You need to record the transaction in the foreign currency itself when you
> maintain the balance of the concerned account in foreign currency.
>

There are also stored origAmount and origCurrencyUomId along with amount
and currencyUomId for all the transactions, so, conversion rate can be
calculated at any moment.

>
> Thanks & Regards
> --
>
> Vaibhav Jain
> Hotwax Systems,
> [hidden email]
>
> On Mon, Oct 23, 2017 at 11:18 AM, Akash Jain <[hidden email]
> >
> wrote:
>
> > Hello All,
> >
> > I have verified multi-currency flow for SO and PO, here is the detail:
> >
> > PO: Company currency is USD and Supplier currency is EUR, then,
> > -- order created in supplier currency
> > -- inventory cost of products are company currency after receiving
> > products.
> > -- invoice created in supplier currency
> > -- payment created in supplier currency
> > -- accounting transactions (for Purchase Invoice, Outgoing Payment and
> > Payment
> > Applied types) posted in company currency.
> >
> > I think this flow is working as expected, please confirm?
> >
> > SO: Company currency is USD and Customer currency is EUR, then,
> > -- order created in customer currency
> > -- invoice created in customer currency
> > -- payment created in customer currency
> > -- accounting transactions (for Sales Invoice and Payment Applied types)
> > posted in company currency.
> > -- accounting transactions for *Incoming Payment* type posted in
> *customer*
> >  currency.
> >
> > Just want to confirm that, is it expected behaviour OR incoming payment
> > transactions should also be posted in company currency (USD) for SO.
> >
> > Thanks in advance for your reply!
> >
> > Thanks and Regards
> > --
> > Akash Jain
> > www.hotwaxsystems.com
> > www.hotwax.co
> >
>

[Vaibhav Jain]

Hello Akash,

A transaction can be posted either in home currency or foreign currency.

So,
If incoming payment is posted in customer currency then outgoing payment
should be posted in supplier(respected party) currency.
OR
Both incoming and outgoing payment should be posted in home currency.

Thanks & Regards
--

Vaibhav Jain
Hotwax Systems,
[hidden email]

On Tue, Oct 24, 2017 at 10:51 AM, Akash Jain <[hidden email]>
wrote:

> Thanks Vaibhav for your reply!
>
> comment inline..
>
> Thanks and Regards
> --
> Akash Jain
>
> On Tue, Oct 24, 2017 at 10:24 AM, Vaibhav Jain <
> [hidden email]> wrote:
>
> > Hello Akash,
> >
> >
> > >>Just want to confirm that, is it expected behaviour OR incoming payment
> > >>transactions should also be posted in company currency (USD) for SO.
> > If the transactions are recorded in home currency, the rate at which the
> > foreign currency is exchanged should be recorded as well.
> > OR
> > You need to record the transaction in the foreign currency itself when
> you
> > maintain the balance of the concerned account in foreign currency.
> >
>
> There are also stored origAmount and origCurrencyUomId along with amount
> and currencyUomId for all the transactions, so, conversion rate can be
> calculated at any moment.
>
>
> >
> > Thanks & Regards
> > --
> >
> > Vaibhav Jain
> > Hotwax Systems,
> > [hidden email]
> >
> > On Mon, Oct 23, 2017 at 11:18 AM, Akash Jain <
> [hidden email]
> > >
> > wrote:
> >
> > > Hello All,
> > >
> > > I have verified multi-currency flow for SO and PO, here is the detail:
> > >
> > > PO: Company currency is USD and Supplier currency is EUR, then,
> > > -- order created in supplier currency
> > > -- inventory cost of products are company currency after receiving
> > > products.
> > > -- invoice created in supplier currency
> > > -- payment created in supplier currency
> > > -- accounting transactions (for Purchase Invoice, Outgoing Payment and
> > > Payment
> > > Applied types) posted in company currency.
> > >
> > > I think this flow is working as expected, please confirm?
> > >
> > > SO: Company currency is USD and Customer currency is EUR, then,
> > > -- order created in customer currency
> > > -- invoice created in customer currency
> > > -- payment created in customer currency
> > > -- accounting transactions (for Sales Invoice and Payment Applied
> types)
> > > posted in company currency.
> > > -- accounting transactions for *Incoming Payment* type posted in
> > *customer*
> > >  currency.
> > >
> > > Just want to confirm that, is it expected behaviour OR incoming payment
> > > transactions should also be posted in company currency (USD) for SO.
> > >
> > > Thanks in advance for your reply!
> > >
> > > Thanks and Regards
> > > --
> > > Akash Jain
> > > www.hotwaxsystems.com
> > > www.hotwax.co
> > >
> >
>

[Akash Jain]

Yes, incoming and outgoing payment should be posted either in company
currency or customer/supplier currency.

James suggested in previous email that, incoming payment should be posted
in customer currency. Let's wait for more responses, then, move further
accordingly.


Thanks and Regards
--
Akash Jain
www.hotwaxsystems.com
www.hotwax.co

On Tue, Oct 24, 2017 at 1:47 PM, Vaibhav Jain <
[hidden email]> wrote:

> Hello Akash,
>
> A transaction can be posted either in home currency or foreign currency.
>
> So,
> If incoming payment is posted in customer currency then outgoing payment
> should be posted in supplier(respected party) currency.
> OR
> Both incoming and outgoing payment should be posted in home currency.
>
> Thanks & Regards
> --
>
> Vaibhav Jain
> Hotwax Systems,
> [hidden email]
>
> On Tue, Oct 24, 2017 at 10:51 AM, Akash Jain <[hidden email]
> >
> wrote:
>
> > Thanks Vaibhav for your reply!
> >
> > comment inline..
> >
> > Thanks and Regards
> > --
> > Akash Jain
> >
> > On Tue, Oct 24, 2017 at 10:24 AM, Vaibhav Jain <
> > [hidden email]> wrote:
> >
> > > Hello Akash,
> > >
> > >
> > > >>Just want to confirm that, is it expected behaviour OR incoming
> payment
> > > >>transactions should also be posted in company currency (USD) for SO.
> > > If the transactions are recorded in home currency, the rate at which
> the
> > > foreign currency is exchanged should be recorded as well.
> > > OR
> > > You need to record the transaction in the foreign currency itself when
> > you
> > > maintain the balance of the concerned account in foreign currency.
> > >
> >
> > There are also stored origAmount and origCurrencyUomId along with amount
> > and currencyUomId for all the transactions, so, conversion rate can be
> > calculated at any moment.
> >
> >
> > >
> > > Thanks & Regards
> > > --
> > >
> > > Vaibhav Jain
> > > Hotwax Systems,
> > > [hidden email]
> > >
> > > On Mon, Oct 23, 2017 at 11:18 AM, Akash Jain <
> > [hidden email]
> > > >
> > > wrote:
> > >
> > > > Hello All,
> > > >
> > > > I have verified multi-currency flow for SO and PO, here is the
> detail:
> > > >
> > > > PO: Company currency is USD and Supplier currency is EUR, then,
> > > > -- order created in supplier currency
> > > > -- inventory cost of products are company currency after receiving
> > > > products.
> > > > -- invoice created in supplier currency
> > > > -- payment created in supplier currency
> > > > -- accounting transactions (for Purchase Invoice, Outgoing Payment
> and
> > > > Payment
> > > > Applied types) posted in company currency.
> > > >
> > > > I think this flow is working as expected, please confirm?
> > > >
> > > > SO: Company currency is USD and Customer currency is EUR, then,
> > > > -- order created in customer currency
> > > > -- invoice created in customer currency
> > > > -- payment created in customer currency
> > > > -- accounting transactions (for Sales Invoice and Payment Applied
> > types)
> > > > posted in company currency.
> > > > -- accounting transactions for *Incoming Payment* type posted in
> > > *customer*
> > > >  currency.
> > > >
> > > > Just want to confirm that, is it expected behaviour OR incoming
> payment
> > > > transactions should also be posted in company currency (USD) for SO.
> > > >
> > > > Thanks in advance for your reply!
> > > >
> > > > Thanks and Regards
> > > > --
> > > > Akash Jain
> > > > www.hotwaxsystems.com
> > > > www.hotwax.co
> > > >
> > >
> >
>

[Akash Jain]

Fixed typo:

>James suggested in previous email that, incoming payment should be posted
in customer currency.

James suggested in previous email that, incoming payment should be posted
in *company* currency.

Thanks and Regards
--
Akash Jain

On Tue, Oct 24, 2017 at 2:24 PM, Akash Jain <[hidden email]>
wrote:

> Yes, incoming and outgoing payment should be posted either in company
> currency or customer/supplier currency.
>
> James suggested in previous email that, incoming payment should be posted
> in customer currency. Let's wait for more responses, then, move further
> accordingly.
>
>
> Thanks and Regards
> --
> Akash Jain
> www.hotwaxsystems.com
> www.hotwax.co
>
> On Tue, Oct 24, 2017 at 1:47 PM, Vaibhav Jain <vaibhav.jain@hotwaxsystems.
> com> wrote:
>
>> Hello Akash,
>>
>> A transaction can be posted either in home currency or foreign currency.
>>
>> So,
>> If incoming payment is posted in customer currency then outgoing payment
>> should be posted in supplier(respected party) currency.
>> OR
>> Both incoming and outgoing payment should be posted in home currency.
>>
>> Thanks & Regards
>> --
>>
>> Vaibhav Jain
>> Hotwax Systems,
>> [hidden email]
>>
>> On Tue, Oct 24, 2017 at 10:51 AM, Akash Jain <
>> [hidden email]>
>> wrote:
>>
>> > Thanks Vaibhav for your reply!
>> >
>> > comment inline..
>> >
>> > Thanks and Regards
>> > --
>> > Akash Jain
>> >
>> > On Tue, Oct 24, 2017 at 10:24 AM, Vaibhav Jain <
>> > [hidden email]> wrote:
>> >
>> > > Hello Akash,
>> > >
>> > >
>> > > >>Just want to confirm that, is it expected behaviour OR incoming
>> payment
>> > > >>transactions should also be posted in company currency (USD) for SO.
>> > > If the transactions are recorded in home currency, the rate at which
>> the
>> > > foreign currency is exchanged should be recorded as well.
>> > > OR
>> > > You need to record the transaction in the foreign currency itself when
>> > you
>> > > maintain the balance of the concerned account in foreign currency.
>> > >
>> >
>> > There are also stored origAmount and origCurrencyUomId along with amount
>> > and currencyUomId for all the transactions, so, conversion rate can be
>> > calculated at any moment.
>> >
>> >
>> > >
>> > > Thanks & Regards
>> > > --
>> > >
>> > > Vaibhav Jain
>> > > Hotwax Systems,
>> > > [hidden email]
>> > >
>> > > On Mon, Oct 23, 2017 at 11:18 AM, Akash Jain <
>> > [hidden email]
>> > > >
>> > > wrote:
>> > >
>> > > > Hello All,
>> > > >
>> > > > I have verified multi-currency flow for SO and PO, here is the
>> detail:
>> > > >
>> > > > PO: Company currency is USD and Supplier currency is EUR, then,
>> > > > -- order created in supplier currency
>> > > > -- inventory cost of products are company currency after receiving
>> > > > products.
>> > > > -- invoice created in supplier currency
>> > > > -- payment created in supplier currency
>> > > > -- accounting transactions (for Purchase Invoice, Outgoing Payment
>> and
>> > > > Payment
>> > > > Applied types) posted in company currency.
>> > > >
>> > > > I think this flow is working as expected, please confirm?
>> > > >
>> > > > SO: Company currency is USD and Customer currency is EUR, then,
>> > > > -- order created in customer currency
>> > > > -- invoice created in customer currency
>> > > > -- payment created in customer currency
>> > > > -- accounting transactions (for Sales Invoice and Payment Applied
>> > types)
>> > > > posted in company currency.
>> > > > -- accounting transactions for *Incoming Payment* type posted in
>> > > *customer*
>> > > >  currency.
>> > > >
>> > > > Just want to confirm that, is it expected behaviour OR incoming
>> payment
>> > > > transactions should also be posted in company currency (USD) for SO.
>> > > >
>> > > > Thanks in advance for your reply!
>> > > >
>> > > > Thanks and Regards
>> > > > --
>> > > > Akash Jain
>> > > > www.hotwaxsystems.com
>> > > > www.hotwax.co
>> > > >
>> > >
>> >
>>
>
>

[Rishi Solanki]

Akash,
Thanks for the interesting use case. I would say what is happening in
either case is correct (PO/SO). But as an improvement we can consider SO
case to post the payment transaction in company currency with some caution.
As I said what is currently happening is correct, because whatever amount
we are receiving is the exact amount we get in order and in invoice because
we are always using the customer currency.

Caution is to take care of conversion rates, that means we need to finalize
when to calculate the payment amount on the rate when the invoice/order was
created or when payment transaction will be created. We have to make one
policy, as currency conversions rate changes regularly.

We should consider it as an improvement and should keep the above point in
mind. Otherwise whatever is the current implementation is correct and have
no issues on the conversion factor and difference in payment and invoice
amount.




Rishi Solanki
Sr Manager, Enterprise Software Development
HotWax Systems Pvt. Ltd.
Direct: [phone]
http://www.hotwaxsystems.com
www.hotwax.co

On Tue, Oct 24, 2017 at 2:32 PM, Akash Jain <[hidden email]>
wrote:

> Fixed typo:
>
> >James suggested in previous email that, incoming payment should be posted
> in customer currency.
>
> James suggested in previous email that, incoming payment should be posted
> in *company* currency.
>
> Thanks and Regards
> --
> Akash Jain
>
> On Tue, Oct 24, 2017 at 2:24 PM, Akash Jain <[hidden email]>
> wrote:
>
> > Yes, incoming and outgoing payment should be posted either in company
> > currency or customer/supplier currency.
> >
> > James suggested in previous email that, incoming payment should be posted
> > in customer currency. Let's wait for more responses, then, move further
> > accordingly.
> >
> >
> > Thanks and Regards
> > --
> > Akash Jain
> > www.hotwaxsystems.com
> > www.hotwax.co
> >
> > On Tue, Oct 24, 2017 at 1:47 PM, Vaibhav Jain
> <vaibhav.jain@hotwaxsystems.
> > com> wrote:
> >
> >> Hello Akash,
> >>
> >> A transaction can be posted either in home currency or foreign currency.
> >>
> >> So,
> >> If incoming payment is posted in customer currency then outgoing payment
> >> should be posted in supplier(respected party) currency.
> >> OR
> >> Both incoming and outgoing payment should be posted in home currency.
> >>
> >> Thanks & Regards
> >> --
> >>
> >> Vaibhav Jain
> >> Hotwax Systems,
> >> [hidden email]
> >>
> >> On Tue, Oct 24, 2017 at 10:51 AM, Akash Jain <
> >> [hidden email]>
> >> wrote:
> >>
> >> > Thanks Vaibhav for your reply!
> >> >
> >> > comment inline..
> >> >
> >> > Thanks and Regards
> >> > --
> >> > Akash Jain
> >> >
> >> > On Tue, Oct 24, 2017 at 10:24 AM, Vaibhav Jain <
> >> > [hidden email]> wrote:
> >> >
> >> > > Hello Akash,
> >> > >
> >> > >
> >> > > >>Just want to confirm that, is it expected behaviour OR incoming
> >> payment
> >> > > >>transactions should also be posted in company currency (USD) for
> SO.
> >> > > If the transactions are recorded in home currency, the rate at which
> >> the
> >> > > foreign currency is exchanged should be recorded as well.
> >> > > OR
> >> > > You need to record the transaction in the foreign currency itself
> when
> >> > you
> >> > > maintain the balance of the concerned account in foreign currency.
> >> > >
> >> >
> >> > There are also stored origAmount and origCurrencyUomId along with
> amount
> >> > and currencyUomId for all the transactions, so, conversion rate can be
> >> > calculated at any moment.
> >> >
> >> >
> >> > >
> >> > > Thanks & Regards
> >> > > --
> >> > >
> >> > > Vaibhav Jain
> >> > > Hotwax Systems,
> >> > > [hidden email]
> >> > >
> >> > > On Mon, Oct 23, 2017 at 11:18 AM, Akash Jain <
> >> > [hidden email]
> >> > > >
> >> > > wrote:
> >> > >
> >> > > > Hello All,
> >> > > >
> >> > > > I have verified multi-currency flow for SO and PO, here is the
> >> detail:
> >> > > >
> >> > > > PO: Company currency is USD and Supplier currency is EUR, then,
> >> > > > -- order created in supplier currency
> >> > > > -- inventory cost of products are company currency after receiving
> >> > > > products.
> >> > > > -- invoice created in supplier currency
> >> > > > -- payment created in supplier currency
> >> > > > -- accounting transactions (for Purchase Invoice, Outgoing Payment
> >> and
> >> > > > Payment
> >> > > > Applied types) posted in company currency.
> >> > > >
> >> > > > I think this flow is working as expected, please confirm?
> >> > > >
> >> > > > SO: Company currency is USD and Customer currency is EUR, then,
> >> > > > -- order created in customer currency
> >> > > > -- invoice created in customer currency
> >> > > > -- payment created in customer currency
> >> > > > -- accounting transactions (for Sales Invoice and Payment Applied
> >> > types)
> >> > > > posted in company currency.
> >> > > > -- accounting transactions for *Incoming Payment* type posted in
> >> > > *customer*
> >> > > >  currency.
> >> > > >
> >> > > > Just want to confirm that, is it expected behaviour OR incoming
> >> payment
> >> > > > transactions should also be posted in company currency (USD) for
> SO.
> >> > > >
> >> > > > Thanks in advance for your reply!
> >> > > >
> >> > > > Thanks and Regards
> >> > > > --
> >> > > > Akash Jain
> >> > > > www.hotwaxsystems.com
> >> > > > www.hotwax.co
> >> > > >
> >> > >
> >> >
> >>
> >
> >
>

[Akash Jain]

Thanks to James, Vaibhav, Rishi for your reply!

In the first step, we will make PO and SO workflow consistent in which
payment transactions should be posted in same currency either company
currency or supplier/customer currency. As per James and Vaibhav replied,
concluded that payment transaction should be posted in company currency.
This is working for PO and need to fix for SO, here is the ticket OFBIZ-9921
<https://issues.apache.org/jira/browse/OFBIZ-9921>

In the second step, we will take care of conversion rate as Rishi
suggested: "when to calculate the payment amount on the rate when the
invoice/order was created or when payment transaction will be created".

Thanks and Regards
--
Akash Jain
www.hotwaxsystems.com
www.hotwax.co

On Thu, Oct 26, 2017 at 2:00 PM, Rishi Solanki <[hidden email]>
wrote:

> Akash,
> Thanks for the interesting use case. I would say what is happening in
> either case is correct (PO/SO). But as an improvement we can consider SO
> case to post the payment transaction in company currency with some caution.
> As I said what is currently happening is correct, because whatever amount
> we are receiving is the exact amount we get in order and in invoice because
> we are always using the customer currency.
>
> Caution is to take care of conversion rates, that means we need to finalize
> when to calculate the payment amount on the rate when the invoice/order was
> created or when payment transaction will be created. We have to make one
> policy, as currency conversions rate changes regularly.
>
> We should consider it as an improvement and should keep the above point in
> mind. Otherwise whatever is the current implementation is correct and have
> no issues on the conversion factor and difference in payment and invoice
> amount.
>
>
>
>
> Rishi Solanki
> Sr Manager, Enterprise Software Development
> HotWax Systems Pvt. Ltd.
> Direct: [phone]
> http://www.hotwaxsystems.com
> www.hotwax.co
>
> On Tue, Oct 24, 2017 at 2:32 PM, Akash Jain <[hidden email]>
> wrote:
>
> > Fixed typo:
> >
> > >James suggested in previous email that, incoming payment should be
> posted
> > in customer currency.
> >
> > James suggested in previous email that, incoming payment should be posted
> > in *company* currency.
> >
> > Thanks and Regards
> > --
> > Akash Jain
> >
> > On Tue, Oct 24, 2017 at 2:24 PM, Akash Jain <
> [hidden email]>
> > wrote:
> >
> > > Yes, incoming and outgoing payment should be posted either in company
> > > currency or customer/supplier currency.
> > >
> > > James suggested in previous email that, incoming payment should be
> posted
> > > in customer currency. Let's wait for more responses, then, move further
> > > accordingly.
> > >
> > >
> > > Thanks and Regards
> > > --
> > > Akash Jain
> > > www.hotwaxsystems.com
> > > www.hotwax.co
> > >
> > > On Tue, Oct 24, 2017 at 1:47 PM, Vaibhav Jain
> > <vaibhav.jain@hotwaxsystems.
> > > com> wrote:
> > >
> > >> Hello Akash,
> > >>
> > >> A transaction can be posted either in home currency or foreign
> currency.
> > >>
> > >> So,
> > >> If incoming payment is posted in customer currency then outgoing
> payment
> > >> should be posted in supplier(respected party) currency.
> > >> OR
> > >> Both incoming and outgoing payment should be posted in home currency.
> > >>
> > >> Thanks & Regards
> > >> --
> > >>
> > >> Vaibhav Jain
> > >> Hotwax Systems,
> > >> [hidden email]
> > >>
> > >> On Tue, Oct 24, 2017 at 10:51 AM, Akash Jain <
> > >> [hidden email]>
> > >> wrote:
> > >>
> > >> > Thanks Vaibhav for your reply!
> > >> >
> > >> > comment inline..
> > >> >
> > >> > Thanks and Regards
> > >> > --
> > >> > Akash Jain
> > >> >
> > >> > On Tue, Oct 24, 2017 at 10:24 AM, Vaibhav Jain <
> > >> > [hidden email]> wrote:
> > >> >
> > >> > > Hello Akash,
> > >> > >
> > >> > >
> > >> > > >>Just want to confirm that, is it expected behaviour OR incoming
> > >> payment
> > >> > > >>transactions should also be posted in company currency (USD) for
> > SO.
> > >> > > If the transactions are recorded in home currency, the rate at
> which
> > >> the
> > >> > > foreign currency is exchanged should be recorded as well.
> > >> > > OR
> > >> > > You need to record the transaction in the foreign currency itself
> > when
> > >> > you
> > >> > > maintain the balance of the concerned account in foreign currency.
> > >> > >
> > >> >
> > >> > There are also stored origAmount and origCurrencyUomId along with
> > amount
> > >> > and currencyUomId for all the transactions, so, conversion rate can
> be
> > >> > calculated at any moment.
> > >> >
> > >> >
> > >> > >
> > >> > > Thanks & Regards
> > >> > > --
> > >> > >
> > >> > > Vaibhav Jain
> > >> > > Hotwax Systems,
> > >> > > [hidden email]
> > >> > >
> > >> > > On Mon, Oct 23, 2017 at 11:18 AM, Akash Jain <
> > >> > [hidden email]
> > >> > > >
> > >> > > wrote:
> > >> > >
> > >> > > > Hello All,
> > >> > > >
> > >> > > > I have verified multi-currency flow for SO and PO, here is the
> > >> detail:
> > >> > > >
> > >> > > > PO: Company currency is USD and Supplier currency is EUR, then,
> > >> > > > -- order created in supplier currency
> > >> > > > -- inventory cost of products are company currency after
> receiving
> > >> > > > products.
> > >> > > > -- invoice created in supplier currency
> > >> > > > -- payment created in supplier currency
> > >> > > > -- accounting transactions (for Purchase Invoice, Outgoing
> Payment
> > >> and
> > >> > > > Payment
> > >> > > > Applied types) posted in company currency.
> > >> > > >
> > >> > > > I think this flow is working as expected, please confirm?
> > >> > > >
> > >> > > > SO: Company currency is USD and Customer currency is EUR, then,
> > >> > > > -- order created in customer currency
> > >> > > > -- invoice created in customer currency
> > >> > > > -- payment created in customer currency
> > >> > > > -- accounting transactions (for Sales Invoice and Payment
> Applied
> > >> > types)
> > >> > > > posted in company currency.
> > >> > > > -- accounting transactions for *Incoming Payment* type posted in
> > >> > > *customer*
> > >> > > >  currency.
> > >> > > >
> > >> > > > Just want to confirm that, is it expected behaviour OR incoming
> > >> payment
> > >> > > > transactions should also be posted in company currency (USD) for
> > SO.
> > >> > > >
> > >> > > > Thanks in advance for your reply!
> > >> > > >
> > >> > > > Thanks and Regards
> > >> > > > --
> > >> > > > Akash Jain
> > >> > > > www.hotwaxsystems.com
> > >> > > > www.hotwax.co
> > >> > > >
> > >> > >
> > >> >
> > >>
> > >
> > >
> >
>