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This text refers to program version 4.3  

Receipts

Both conversion systems add several new fields to the Receipt screen. The following comments apply in the main to both conversion methods: any minor variations are detailed in the text.

When you enter a Receipt, you can apply a separate Currency to each payment listed in the Receipt record. So, you can record all payments received in a single day using a single Receipt record, irrespective of Currency (and of Payment Mode and therefore of Bank Account).

As a default, it is assumed that a payment for an Invoice will be received in the same Currency as that in which the Invoice was issued, so entering an Invoice Number in the grid will bring in the appropriate Currency. The current conversion rates are used and cannot be modified for an individual payment.

In the example illustration, a cheque was received made out in USD (US Dollars, the R. Cur or Receipt Currency) and paid into a GBP (Pounds Sterling) bank account (the B. Cur or Bank Currency). If the Bank Currency is the same for each payment on the Receipt, the Deposited figure at the bottom of the screen shows the sum of the payment amounts in that Currency. As a reminder, the Currency of the original Invoice appears as the I. Cur on flip B.

If you are using the Dual-Base system or both systems in combination, the Bank Currency will default to the Default Base Currency as defined in the Base Currency setting in the System module. You can change to Base Currency 2 (Dual-Base system) or any other Currency (both systems in combination) if this is appropriate for the bank account that will receive the payment. The Bank Amount will be recalculated automatically, using the current Base and/or Exchange Rates. If you are using the simple conversion system only, there will be no default in the Bank Currency field, which effectively means your home Currency will be used. You can specify your home Currency for clarity, or you can specify any other Currency if necessary.

In normal circumstances, you should not change the Bank Amount. In the case of partial payments or overpayments, change the Received Value. The Bank Amount will be recalculated automatically by FirstOffice, using the current Base and/or Exchange Rates. If you change the Bank Amount, the Received Value will not be updated automatically, so you should only make such an alteration in exceptional circumstances. Examples might be when you know that the exchange rate that will be levied by the bank is different to the latest rate in FirstOffice, or when you know the exact amount of the Receipt as added to your bank account. Changing the Bank Amount is therefore effectively the same as changing the exchange rate for a single Receipt row. There is an example later in this section.

You can enter bank charges to the Bank Fee field on flip E. You should enter the bank charge figure in the Bank Currency. Such charges will be posted to the Bank Fee Account specified on the 'Debtors' card of the Account Usage S/L setting, as shown below:

The following illustration shows the flexibility of the Receipt system. Payment against an Invoice raised in Norwegian Kroner for NOK 2224.50 (GBP 197.40) was received in the form of two cheques, one for NOK 224.50 and one for 281.71 Euros. Both were paid into the GBP bank account:

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