Yes, incoming and outgoing payment should be posted either in company currency or customer/supplier currency.
James suggested in previous email that, incoming payment should be posted in customer currency. Let's wait for more responses, then, move further accordingly. Thanks and Regards -- Akash Jain www.hotwaxsystems.com www.hotwax.co On Tue, Oct 24, 2017 at 1:47 PM, Vaibhav Jain < [email protected]> wrote: > Hello Akash, > > A transaction can be posted either in home currency or foreign currency. > > So, > If incoming payment is posted in customer currency then outgoing payment > should be posted in supplier(respected party) currency. > OR > Both incoming and outgoing payment should be posted in home currency. > > Thanks & Regards > -- > > Vaibhav Jain > Hotwax Systems, > [email protected] > > On Tue, Oct 24, 2017 at 10:51 AM, Akash Jain <[email protected] > > > wrote: > > > Thanks Vaibhav for your reply! > > > > comment inline.. > > > > Thanks and Regards > > -- > > Akash Jain > > > > On Tue, Oct 24, 2017 at 10:24 AM, Vaibhav Jain < > > [email protected]> wrote: > > > > > Hello Akash, > > > > > > > > > >>Just want to confirm that, is it expected behaviour OR incoming > payment > > > >>transactions should also be posted in company currency (USD) for SO. > > > If the transactions are recorded in home currency, the rate at which > the > > > foreign currency is exchanged should be recorded as well. > > > OR > > > You need to record the transaction in the foreign currency itself when > > you > > > maintain the balance of the concerned account in foreign currency. > > > > > > > There are also stored origAmount and origCurrencyUomId along with amount > > and currencyUomId for all the transactions, so, conversion rate can be > > calculated at any moment. > > > > > > > > > > Thanks & Regards > > > -- > > > > > > Vaibhav Jain > > > Hotwax Systems, > > > [email protected] > > > > > > On Mon, Oct 23, 2017 at 11:18 AM, Akash Jain < > > [email protected] > > > > > > > wrote: > > > > > > > Hello All, > > > > > > > > I have verified multi-currency flow for SO and PO, here is the > detail: > > > > > > > > PO: Company currency is USD and Supplier currency is EUR, then, > > > > -- order created in supplier currency > > > > -- inventory cost of products are company currency after receiving > > > > products. > > > > -- invoice created in supplier currency > > > > -- payment created in supplier currency > > > > -- accounting transactions (for Purchase Invoice, Outgoing Payment > and > > > > Payment > > > > Applied types) posted in company currency. > > > > > > > > I think this flow is working as expected, please confirm? > > > > > > > > SO: Company currency is USD and Customer currency is EUR, then, > > > > -- order created in customer currency > > > > -- invoice created in customer currency > > > > -- payment created in customer currency > > > > -- accounting transactions (for Sales Invoice and Payment Applied > > types) > > > > posted in company currency. > > > > -- accounting transactions for *Incoming Payment* type posted in > > > *customer* > > > > currency. > > > > > > > > Just want to confirm that, is it expected behaviour OR incoming > payment > > > > transactions should also be posted in company currency (USD) for SO. > > > > > > > > Thanks in advance for your reply! > > > > > > > > Thanks and Regards > > > > -- > > > > Akash Jain > > > > www.hotwaxsystems.com > > > > www.hotwax.co > > > > > > > > > >
