Verify Multicurrency Functionality

[Akash Jain]

Hello All,

I have verified multicurrency functionality for PO and SO, here are the
results:

*PO:*
Placed PO to different currency supplier (company: USD and supplier: EUR)
and received this PO:
-- order created in supplier currency i.e EUR
-- after receiving order item, inventory cost of product is company
currency i.e USD
-- invoice and payment created in supplier currency
-- accounting transaction posted in company currency

PO total: €60 & Purchase invoice: €60 & Vendor payment: €60 & Accounting
transactions are:



Account

D / C

Amt

Orig Amt

Purchase Invoice

UNINVOICED ITEM RECEIPTS (Current Liability)

D

$90.00

€60

Accounts Payable

C

$90.00

€60

Outgoing Payment

GENERAL CHECKING ACCOUNT (Current Asset)

C

$90.00

€60

Accounts Payable - Unapplied Payments

D

$90.00

€60

Payment Applied

Accounts Payable

D

$90.00

€60

Accounts Payable - Unapplied Payments

C

$90.00

€60


Conversion rate data setup:
<UomConversionDated uomId="USD" uomIdTo="EUR" conversionFactor="0.70"
fromDate="2001-01-01 00:00:00.0"/>
<UomConversionDated uomId="EUR" uomIdTo="USD" conversionFactor="1.50"
fromDate="2001-01-01 00:00:00.0"/>
<UomConversionDated uomId="USD" uomIdTo="USD" conversionFactor="1.00"
fromDate="2001-01-01 00:00:00.0"/>

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

*SO:*
Placed SO to different currency customer (company: USD and customer: EUR)
and fulfill this SO:
-- order created in customer currency i.e EUR
-- invoice and payment created in customer currency
-- accounting transaction posted in company currency (USD) except for
incoming payment

SO total (item: €22.50 & adjustment: -€2.25 & shipping: €10): €30.25 &
Sales invoice (item: €22.50 & promotion: -€2.25 & shipping: €10): €30.25 &
Customer payment: €30.25  & Accouting transactions are:




Account

D / C

Amt

Orig Amt

Sales Invoice

GENERAL SALES (Revenue)

C

$33.75

€22.50

DISCOUNTS ON SALES

D

$3.38

€2.25

MISCELLANEOUS SALES

C

$15.00

€10.00

Accounts Receivable

D

$45.37

€30.25

Incoming Payment

*GENERAL CHECKING ACCOUNT (Current Asset)*

*D*

*€30.25*

€30.25

*Accounts Receivable - Unapplied Payments*

*C*

*€30.25*

€30.25

Payment Applied

Accounts Receivable - Unapplied Payments

D

$45.37

€30.25

Accounts Receivable

C

$45.37

€30.25


Just want to confirm that, it is expected behavior 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]

Sorry table not showing correctly, I am compiling and send it again.

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

On Thu, Oct 12, 2017 at 6:36 PM, Akash Jain <[hidden email]>
wrote:

> Hello All,
>
> I have verified multicurrency functionality for PO and SO, here are the
> results:
>
> *PO:*
> Placed PO to different currency supplier (company: USD and supplier: EUR)
> and received this PO:
> -- order created in supplier currency i.e EUR
> -- after receiving order item, inventory cost of product is company
> currency i.e USD
> -- invoice and payment created in supplier currency
> -- accounting transaction posted in company currency
>
> PO total: €60 & Purchase invoice: €60 & Vendor payment: €60 & Accounting
> transactions are:
>
>
>
> Account
>
> D / C
>
> Amt
>
> Orig Amt
>
> Purchase Invoice
>
> UNINVOICED ITEM RECEIPTS (Current Liability)
>
> D
>
> $90.00
>
> €60
>
> Accounts Payable
>
> C
>
> $90.00
>
> €60
>
> Outgoing Payment
>
> GENERAL CHECKING ACCOUNT (Current Asset)
>
> C
>
> $90.00
>
> €60
>
> Accounts Payable - Unapplied Payments
>
> D
>
> $90.00
>
> €60
>
> Payment Applied
>
> Accounts Payable
>
> D
>
> $90.00
>
> €60
>
> Accounts Payable - Unapplied Payments
>
> C
>
> $90.00
>
> €60
>
>
> Conversion rate data setup:
> <UomConversionDated uomId="USD" uomIdTo="EUR" conversionFactor="0.70"
> fromDate="2001-01-01 00:00:00.0"/>
> <UomConversionDated uomId="EUR" uomIdTo="USD" conversionFactor="1.50"
> fromDate="2001-01-01 00:00:00.0"/>
> <UomConversionDated uomId="USD" uomIdTo="USD" conversionFactor="1.00"
> fromDate="2001-01-01 00:00:00.0"/>
>
> I think this flow is working as expected, please confirm?
>
> *SO:*
> Placed SO to different currency customer (company: USD and customer: EUR)
> and fulfill this SO:
> -- order created in customer currency i.e EUR
> -- invoice and payment created in customer currency
> -- accounting transaction posted in company currency (USD) except for
> incoming payment
>
> SO total (item: €22.50 & adjustment: -€2.25 & shipping: €10): €30.25 &
> Sales invoice (item: €22.50 & promotion: -€2.25 & shipping: €10): €30.25 &
> Customer payment: €30.25  & Accouting transactions are:
>
>
>
>
> Account
>
> D / C
>
> Amt
>
> Orig Amt
>
> Sales Invoice
>
> GENERAL SALES (Revenue)
>
> C
>
> $33.75
>
> €22.50
>
> DISCOUNTS ON SALES
>
> D
>
> $3.38
>
> €2.25
>
> MISCELLANEOUS SALES
>
> C
>
> $15.00
>
> €10.00
>
> Accounts Receivable
>
> D
>
> $45.37
>
> €30.25
>
> Incoming Payment
>
> *GENERAL CHECKING ACCOUNT (Current Asset)*
>
> *D*
>
> *€30.25*
>
> €30.25
>
> *Accounts Receivable - Unapplied Payments*
>
> *C*
>
> *€30.25*
>
> €30.25
>
> Payment Applied
>
> Accounts Receivable - Unapplied Payments
>
> D
>
> $45.37
>
> €30.25
>
> Accounts Receivable
>
> C
>
> $45.37
>
> €30.25
>
>
> Just want to confirm that, it is expected behavior 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]

Hello All,

I have verified multicurrency functionality for PO and SO, here are the
results:

*PO:*
Placed PO to different currency supplier (company: USD and supplier: EUR)
and received this PO:
-- order created in supplier currency i.e EUR
-- after receiving order item, inventory cost of product is company
currency i.e USD
-- invoice and payment created in supplier currency
-- accounting transaction posted in company currency

PO total: €60 & Purchase invoice: €60 & Vendor payment: €60 & Accounting
transactions are:



Account

D / C

Amt

Orig Amt

Purchase Invoice

UNINVOICED ITEM RECEIPTS (Current Liability)

D

$90.00

€60

Accounts Payable

C

$90.00

€60

Outgoing Payment

GENERAL CHECKING ACCOUNT (Current Asset)

C

$90.00

€60

Accounts Payable - Unapplied Payments

D

$90.00

€60

Payment Applied

Accounts Payable

D

$90.00

€60

Accounts Payable - Unapplied Payments

C

$90.00

€60

Conversion rate data setup:
<UomConversionDated uomId="USD" uomIdTo="EUR" conversionFactor="0.70"
fromDate="2001-01-01 00:00:00.0"/>
<UomConversionDated uomId="EUR" uomIdTo="USD" conversionFactor="1.50"
fromDate="2001-01-01 00:00:00.0"/>
<UomConversionDated uomId="USD" uomIdTo="USD" conversionFactor="1.00"
fromDate="2001-01-01 00:00:00.0"/>

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

*SO:*
Placed SO to different currency customer (company: USD and customer: EUR)
and fulfill this SO:
-- order created in customer currency i.e EUR
-- invoice and payment created in customer currency
-- accounting transaction posted in company currency (USD) except for
incoming payment

SO total (item: €22.50 & adjustment: -€2.25 & shipping: €10): €30.25 &
Sales invoice (item: €22.50 & promotion: -€2.25 & shipping: €10): €30.25 &
Customer payment: €30.25  & Accouting transactions are:



Account

D / C

Amt

Orig Amt

Sales Invoice

GENERAL SALES (Revenue)

C

$33.75

€22.50

DISCOUNTS ON SALES

D

$3.38

€2.25

MISCELLANEOUS SALES

C

$15.00

€10.00

Accounts Receivable

D

$45.37

€30.25

*Incoming Payment*

*GENERAL CHECKING ACCOUNT (Current Asset)*

*D*

*€30.25*

€30.25

*Accounts Receivable - Unapplied Payments*

*C*

*€30.25*

€30.25

Payment Applied

Accounts Receivable - Unapplied Payments

D

$45.37

€30.25

Accounts Receivable

C

$45.37

€30.25


Just want to confirm that, it is expected behavior 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]

There is something wrong at my end, sorry for confusion :(

Please discard this thread, will initiate other thread for the same, thanks!

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