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This text refers to program version 7.2  

Payments in Currency

If you are paying a Purchase Invoice in a foreign Currency, it may be necessary for a rate loss or gain to be calculated because the exchange rate might have changed in the time between receiving the Invoice and issuing the payment. In order for the debit posting to the Creditor Account to be balanced by the credit posting to the bank, a rate loss (or gain) must be credited (or debited) to a third Account (for Exchange Rate losses and gains). In fact it is possible to have separate Accounts for rate losses and rate gains. You should specify these Accounts on the 'Rate' card of the Accounts Usage P/L setting before entering Payments in Currency, and the gains or losses will then be posted automatically. The balancing must usually take place against the exchange rate: in most cases you cannot make such adjustments by changing the bank fees or the amounts paid out to the Suppliers.

In the Nominal Ledger Transaction created from a Payment in Currency, that Currency together with the Exchange Rate used will be noted in the Text field.

Please refer here here for more details about Payments in Currency together with illustrated examples.

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In this chapter:

• Introduction
  

• Entering a Payment
  

• Entering a Payment - Example
  

• Payments in Currency
  

• Reconciling Payments, Marking as OK and Posting to the Nominal Ledger
  

• Nominal Ledger Transactions from Payments
  

• Printing Payment Forms and Cheques
  

• Invalidating Payments
  

• Prepayments and On Account Payments
  

• Correcting Mistakes in Payments
  

• Withholding Taxes in the Purchase Ledger
  

• Operations menu

Go back to:

• Home page for Purchase Ledger manual
  

• Home page for HansaWorld Enterprise manual

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