Fixed typo: >James suggested in previous email that, incoming payment should be posted in customer currency.
James suggested in previous email that, incoming payment should be posted in *company* currency. Thanks and Regards -- Akash Jain On Tue, Oct 24, 2017 at 2:24 PM, Akash Jain <[email protected]> wrote: > 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 <vaibhav.jain@hotwaxsystems. > com> 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 >> > > > >> > > >> > >> > >
