faq:multi_currency_currency_forward_process
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| faq:multi_currency_currency_forward_process [2008/03/03 10:44 (16 years ago)] – cliff | faq:multi_currency_currency_forward_process [2008/03/03 10:47 (16 years ago)] – cliff | ||
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| I am going to go through an example process. The date the deposit and contract are initiated will be Jan 1st. The Agreement is to purchase $200,000 on Feb 1st. The advance to the supplier will happen on or after Feb 1st. The local currency will be CAD, and the foreign currency will be USD. | I am going to go through an example process. The date the deposit and contract are initiated will be Jan 1st. The Agreement is to purchase $200,000 on Feb 1st. The advance to the supplier will happen on or after Feb 1st. The local currency will be CAD, and the foreign currency will be USD. | ||
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| ===== Process Description ===== | ===== Process Description ===== | ||
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| - Please select the USD currency forward account you previously created when creating the advance. | - Please select the USD currency forward account you previously created when creating the advance. | ||
| - When you create the bill and apply the advance make sure that you set the currency date of the advance line to be Jan 1st. | - When you create the bill and apply the advance make sure that you set the currency date of the advance line to be Jan 1st. | ||
| + | * As always your purchase order and bill have to have the same dates for inventory reconciliation. To accomplish this make sure each receiving has a corresponding line on the the bill for the same amount and date. Use the currency date functionality to make this easier. | ||
faq/multi_currency_currency_forward_process.txt · Last modified: 2008/03/03 10:48 (16 years ago) by cliff