Here is an example of processing a foreign vendor Invoice and paying it in foreign currency.

The following vendor invoices have been created in a foreign currency and posted. 

When processing payment, only 1 currency can be paid at a time. It is best practice to add the Currency field to the list view. This will provide easy sorting to pay all open A/P items of the same currency.

 

 

As payment is being made, the conversion rate can be entered here in the Currency Conversion Rate field, which will override the rate in the exchange rates table.

Once the batch is posted, any realized gain or loss will also post to the default “realized gain/loss on foreign currency” GL account.

 

 

 

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5 Comments

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    Rebecca Ralls

    With buttercup and onward: Does the Realized Gain or Loss entry happen on the Cash Disbursement or the APD - or does it depend on whether the APD creates transactions?

  • 0
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    Ryan Faulkingham

    Hi Rebecca,

    When a CD is sourced from a payable, then the realized gain will happen on the CD. We are in the process of developing the realized gain transaction when a CD is reversed applied to a payable. 

    Thank you,

    Ryan

  • 0
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    Rebecca Ralls

    What happens currently if a CD is reverse applied to a Payable if they're in a different currency than the corporate currency?  Does the Realized gain or loss entry get generated? Or does that need to be managed manually?

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    Ryan Faulkingham

    Hi Rebecca,

    Reverse application of CD's to Payables is currently not supported in multi-currency, but this is on the roadmap for early 2018. 

    Thank you,

    Ryan

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    Tony

    This will be in the Daisy release. Thanks

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