Akash, Thanks for the interesting use case. I would say what is happening in either case is correct (PO/SO). But as an improvement we can consider SO case to post the payment transaction in company currency with some caution. As I said what is currently happening is correct, because whatever amount we are receiving is the exact amount we get in order and in invoice because we are always using the customer currency.
Caution is to take care of conversion rates, that means we need to finalize when to calculate the payment amount on the rate when the invoice/order was created or when payment transaction will be created. We have to make one policy, as currency conversions rate changes regularly. We should consider it as an improvement and should keep the above point in mind. Otherwise whatever is the current implementation is correct and have no issues on the conversion factor and difference in payment and invoice amount. Rishi Solanki Sr Manager, Enterprise Software Development HotWax Systems Pvt. Ltd. Direct: +91-9893287847 http://www.hotwaxsystems.com www.hotwax.co On Tue, Oct 24, 2017 at 2:32 PM, Akash Jain <[email protected]> wrote: > 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 > >> > > > > >> > > > >> > > >> > > > > >
