• Registered: 08/06/2013
  • Posts: 5

Topic: Foreign Exchange Profit account - surprise appearance

Perhaps a bit of a newbie question, and, to add to the confusion, I'm not an accountant. So with that said, here goes...

I created a Direct Purchase Invoice and then paid it straight away via Supplier Payment Entry. I then displayed the General Ledger Transaction Details and found the following:

Account Code     Account Name     Dimension      Debit         Credit     Memo
2100         Trade Creditors                            56,730.00
1065         Cash                                                            56.00
4450         Foreign Exchange Profit                                   56,674.00
Total                                                         56,730.00     56,730.00

My question is, why, when I selected the 'From Bank' of Cash (a/c code 1065), did it also pick up the Foreign Exchange Profit (a/c code 4450)? I do have 3 currencies set up in the system, but have never seen or manually done anything with this Foreign Exchange Profit account before. The original invoice and this corresponding payment were made in the company's 'Home Currency'. In addition, the goods received are all entered into the system in the company's 'Home Currency'. It's only for a completely different account where the currency is different, and I went nowhere near that account during this purchase and payment.

Then, if you can answer the why, could you also advise me how I can make it so that it doesn't appear in Supplier Payments again, so that next time I just get the 'From Bank' account?

I don't know if you need more detail, but I'm happy to supply it if you do.

Many thanks,
newbie Martin

  • From: Singapore
  • Registered: 09/23/2012
  • Posts: 17

Re: Foreign Exchange Profit account - surprise appearance

Hi Martin,

I am facing the same issues.

It only happens with the latest version 2.3.17.

I have made a post on the bugs report section as well.

You might want to try out version 2.3.16 till the developers look into this.

Cheers,

Kanay

  • From: Singapore, India, Chennai
  • Registered: 05/02/2009
  • Posts: 6,150

Re: Foreign Exchange Profit account - surprise appearance

This may be so for Cash transactions (base currency) and contra account in another currency.

apmuthu's Website

  • From: Singapore
  • Registered: 09/23/2012
  • Posts: 17

Re: Foreign Exchange Profit account - surprise appearance

Hi apmuthu,

Thank you for your input on this.

I can confirm that this happens even when the bank account and vendor account are both tagged to the base currency.  That is, there is no foreign currency component to the transaction.

I also tested it on the test demo data (4 digit American Chart of Accounts) and was apple to replicate the same issue with version 2.3.17.

  • Registered: 12/25/2007
  • Posts: 2,448

Re: Foreign Exchange Profit account - surprise appearance

Unfortunatelly there is a bug in Customer Payments page code in 2.3.17 release. You can fix it changing lines 265-267 in file sales/customer_payments.php like this (see the 'get_post' to 'input_num' call change at the end of the code fragment):

    $payment_no = write_customer_payment($_SESSION['alloc']->trans_no, $_POST['customer_id'], $_POST['BranchID'],
        $_POST['bank_account'], $_POST['DateBanked'], $_POST['ref'],
        input_num('amount'), input_num('discount'), $_POST['memo_'], 0, input_num('charge'), input_num('bank_amount', input_num('amount')));

Let me know whether it will fix the problem for you.
Janusz

  • joe
  • Administrator
  • Offline
  • Registered: 03/15/2007
  • Posts: 5,106

Re: Foreign Exchange Profit account - surprise appearance

Hello guys,

Please download the files supplier_payments.php1 and customer_payments.php1, rename the extension to php, and replace them in your setup. customer_payments.php to /sales and supplier_payments.php to /purchasing.

This will fix the problems.

/Joe

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