Update DBA exchange rates when you change selling prices
If your objective is to furnish your foreign currency customers with fixed selling prices, you would only change the exchange rate in the DBA currency table concurrent with a general set of price changes. By contrast, you will change the exchange rate in your financial accounting system on a regular basis to reflect current market exchange rates for proper realization of currency gain or loss from customer and supplier payments.
Quote and Sales Order Processing
When a quote or sales order is entered against a customer assigned to a foreign currency, the currency table exchange rate is assigned to the sales order and is displayed on the Header and Details tabs. Prices and tax are displayed in home currency and foreign currency. Otherwise, quotes and sales orders are processed in the normal fashion.
Transfer AR vouchers using foreign currency fields
When a foreign currency voucher is transferred in the AR Voucher Transfer screen to your financial accounting system, typically all vouchers, whether in home or foreign currency, would be transferred using the FX Total amount, Currency code, and Exchange Rate (or Inv Exch Rate if your accounting system uses an inverse exchange rate). This works for home currency vouchers as well because in their case the Exchange Rate = ‘1’ and the FX Total and home currency total will be the same value.
Purchase Order Processing
When a purchase order is generated against a supplier assigned to a foreign currency, the currency table exchange rate is assigned to the purchase order and is displayed on the Header and Details tabs. Prices and tax are displayed in home currency and foreign currency. Otherwise, purchase orders are processed in the normal fashion.
PO Invoice Matching
PO invoices for foreign currency suppliers are matched in foreign currency using the current exchange rate in the currency table at time of invoice entry. In cases where the PO header exchange rate differs from the invoice exchange rate, the resulting home currency pricing discrepancies get posted to the RNI Adjustments account.
Transfer AP vouchers using foreign currency fields
When a foreign currency voucher is transferred in the AP Voucher Transfer screen to your financial accounting system, typically all vouchers, whether in home or foreign currency, would be transferred using the FX Total amount, Currency code, and Exchange Rate (or Inv Exch Rate if your accounting system uses an inverse exchange rate). This works for home currency vouchers as well because in their case the Exchange Rate = ‘1’ and the FX Total and home currency total will be the same value.
