• From: Managua
  • Registered: 11/01/2019
  • Posts: 25

Topic: Exchange in Payment AR module

Hello!

I'm doing payment in foreign currency in the Payment bank option and then I put in AR settle amount the right amount, so here everything is okay I have my register at the bank and I canceled my AR account. however, when I look at the journal I didn't see the right operation because in this transaction I must have an exchange difference amount.

Example:

Customer NC for $10  rate 35x$1

Sales disc. 350
AR                      350

NC Bank Payment for $10 36x$1 (This must be the right journal)

AR         350
Exchange 10
Bank               360


However we have a journal with:

AR 360
Bank         360

Remaining  -10 in my AR account in the Balance Sheet. How could I solved This?

Freddy Norori
accountechni.com

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  • dz
  • Member
  • Offline
  • From: Pakistan
  • Registered: 10/07/2019
  • Posts: 49

Re: Exchange in Payment AR module

The Exchange gain/loss entries are automatically booked and posted into the variance GL in FA once you allocate the payment to the invoice (both in Sales and Purchase module). Kindly check if you have allocated the payment to the relevant invoice?

  • From: India, TN, Karur
  • Registered: 05/16/2014
  • Posts: 1,182

Re: Exchange in Payment AR module

During Customer payment, as you can see a textbox stated charges, just input the 10 usd there. the system will put that 10 usd in the Interest and bank charges account.

So your journal entry will be like this.
AR                                350
interest and bank charges  10
Bank                                               360

Hope this helps you.

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