Multi-Currency Processing Chart

 

Sales Order Invoice Processing (SO-G)

Debit Entries                Credit Entries                Debit or Credit

AR Control (source)        Sales (base)                F/E-Trxns (mixed)

                 Sales Tax Payable (base)        

COGS (base)                Inventory (base)

Commission Exp (base)        Commissions Payable (base)

 

Customer Payment Processing (AR-C); Pay Option N

Debit Entries                Credit Entries

Bank Acct  (source)        AR Control (source)        

 

Customer Payment Processing  (AR-C); Pay Option Y

Debit Entries                Credit Entries                

Bank Acct (source)        AR Control (source)                

F/E-Conversions (base)        F/E-Trxns (base)

                                         

Customer Vouchers (AR-B)

Debit Entries                Credit Entries                Debit or Credit

AR Control (source)        Sales (base)                F/E-Trxns (mixed)

                 -enter source, converts to base                        

Sales Tax Payable (base)

-enter source, converts to base

 

Sales Tax Transfer (AR-L)

Debit Entries                        Credit Entries                        Debit or Credit

Sales Tax Payable (base)        AP Control (source or base)        F/E-Trxns (if mixed)

                 

PO Receiving Processing (PO-C)

Debit Entries                Credit Entries                Debit or Credit

Inventory (base)        PORNI Control (source)        F/E-Trxns (Mixed)

 

PO Invoice Processing (AP-C)

Debit Entries                Credit Entries                

PORNI Control (source)        AP Control  (source)        F/E-Trxns (Mixed)

Freight Expense (base)        Sales Tax Payable (base)

                 -enter source, converts to base

 

Vendor Payment Processing (AP-H); Pay Option N

Debit Entries                Credit Entries                

AP Control  (source)        Bank Acct (source)        

 

Vendor Payment Processing (AP-H); Pay Option Y

Debit Entries                Credit Entries                

AP Control  (source)        Bank Acct (source)                

F/E-Trxns (base)        F/E-Conversions (base)

 

Vendor Vouchers (AP-B, AP-O)

Debit Entries                Credit Entries                Debit or Credit

Expense (base)        AP Control (source)        F/E-Trxns (Mixed)

-enter source, converts to base

 

Bank Transfer to Base Account (GL-K)

Debit Entries                Credit Entries                Debit or Credit

Acct 2 (base or source)        Acct 1 (base or source)        F/E-Trxns (mixed)

 

Conversion to Base Currency (IM-B)

First transaction -- Reversal of last conversion value:

Debit Entries                Credit Entries                

AP Conversions (base)        F/E-Conversions (base)

-if it had a credit balance

F/E-Conversions (base)        AR Conversions (base)

                         -if it had a debit balance

PORNI Conversions (base)        F/E-Conversions (base)

-if it had a credit balance

F/E-Conversions (base)        Bank Acct Conversions (base)

                         -If it had a debit balance        

Second transaction -- conversion to base currency: Formula: (current exchange rate) - 1 = (differential rate).  (differential rate) x (Control Acct balance) = Conversion account amount.

Debit Entries                Credit Entries                

F/E-Conversions (base)        AP Conversions (base)

AR Conversions (base)        F/E-Conversions (base)

F/E-Conversions (base)        PORNI Conversions (base)

Bk Acct Conversions (base)        F/E-Conversions (base)