INTERNATIONAL FEATURES - OTHER PROGRAMS

AP-A  Enter Vendors

Field Explanations

The program will give you access to the following fields if you are using the International features.

Currency

If multiple currency processing is activated in IM-A  International Configuration, enter the currency code in this field for the currency your vendor uses for transactions.  The currency must be previously set up in IM-B  Enter Multiple Currencies.  This is a default field that can be overridden when entering a purchase order.  You can therefore transact in multiple currencies with the same vendor, if needed.

Duty Code

If landed cost processing is activated in IM-A  International Configuration and duties apply to purchases made from this vendor, enter a 3-character duty code, which must be previously set up in IM-E  Enter Landed Cost Duty Codes.  In essence the duty code represents the Country of Import when determining the duty rate to be used.

Tax-In Code

If excise tax processing is activated in IM-A  International Configuration, you must enter a Tax-In code as set up in IM-G  Enter Tax-In Codes.

 

AP-B  Enter Vouchers

Multi-Currency Processing

If multi-currency processing is enabled in IM-A  International Configuration, you can enter a voucher in a foreign currency.

When doing so, make all your entries in source currency.  During processing the debit side of the transaction will be converted to base currency at the current rate maintained in IM-C  Enter Currency Exchange Rates.  The credit side of the transaction will post in source currency to this currency's AP Control account.

Auto-Tax Distribution

If Auto-Tax Calc is set to Y in IM-A  International Configuration, you can apply sales taxes to AP vouchers.  To do so, you must have the Track PO taxes using tax groups? prompt set to Y in SD-C  Purchase Orders Defaults.

When entering a voucher, you will be asked if you wish to use the Auto-Tax Distribution feature.  If you answer yes, the program will calculate the tax amount for you and will make the entry to your default Sales Tax Payable account (converted into base currency) in the Distribution area of the screen.

You are then asked if the sales tax is already included in the voucher amount.  If no, the program will credit the AP account by the full amount of the voucher and will make an additional credit for the sales tax amount to Sales Tax Payable.  If yes, the program will reduce the amount of the AP credit by the amount of the tax such that the credit for AP and credit for Sales Tax Payable equal the voucher amount.

Even though the sales tax liability is posted in base currency, for purposes of paying the tax, the amount owed to the tax authority is stored in the sales tax transfer file in source currency.  At the time you transfer the sales tax for payment via AR-L  Transfer Sales Taxes, you can specify whether you wish to pay it in source currency or base currency.

 

AP-C  Enter Purchase Order Invoices

Multi-Currency Processing

If you are using multi-currency processing, the purchase orders that get processed in this program can be coded for transacting in a foreign currency (source currency).  The currency code was assigned to the PO during purchase order entry.

That means that the vendor you are paying will be paid in the source currency specified in the purchase order.

General Ledger processing will be as follows.  The source currency's PO's Rec’d not Invoiced account will be debited (in source currency) for the purchase order amount being paid.  Any freight will be converted to base currency at the current rate maintained in IM-C  Enter Currency Exchange Rates and will be debited to Freight-in expense.  Any sales tax will be converted to base currency at the current exchange rate and will be posted to your default Sales Tax Payable account.  If a currency conversion was made for freight or sales tax, a balancing entry will be made to this currency¡¦s F/E Gain/Loss-Trxns account.

 

AP-H  Print AP Checks

Multi-Currency Processing

If you are using multi-currency processing, you can print checks to vendors in foreign currencies. General Ledger posting is as follows.

If the Pay option in IM-A  International Configuration is set to N, a debit (in source currency) is made to the AP Control Account.  The offsetting credit (in source currency) is made to this currency's Bank Account.

If the Pay option in IM-A set to Y, there are two GL transactions.  The first one is the same as in the paragraph above.  The second is a currency conversion transaction whereby the amount of the payment is converted to your base currency using the exchange rate maintained in IM-C  Enter Currency Exchange Rates.  This base currency amount is then debited to this currency's F/E Gain/Loss-Trxns account and the offsetting amount is credited to this currency's F/E Gain/Loss-Conversions account. Thus, the gain or loss is made at the time of transaction rather than when the Convert to Base Currency routine is run.

 

AP-I  Print Aging

Multi-Currency Reporting

If you are using multi-currency processing, the Accounts Payable for each currency is maintained in source currency.

You can run this report in source currency or in base currency.  Be aware that if you run the report in source currency and include more than one currency on the report, the grand totals will have no meaning.

If you run the report in base currency in order to reconcile the grand total with the total of your General Ledger AP balances (you will have an AP Control account and AP Conversion account for each currency -- which added together equal that currency's total AP amount in base currency), be sure and run the Convert to Base Currency routine in IM-B  Enter Multiple Currencies beforehand so that your source currency AP accounts get translated into base currency.  

Field Explanations

You will be given access to the following fields if you have multi-currency processing enabled.

Currency

You can enter a from/thru range of currency codes if you want to confine this report to Accounts Payable within a currency or range of currencies.

Print in Base or Source Currency?

If you enter an S in this field, any Accounts Payable transacted in foreign currency (source currency) will print in that currency.  If you mix and match the report with Accounts Payable in base currency, be aware that the grand totals will have no meaning because you are mixing different currencies on the same report.

If you enter a B in this field, all Accounts Payable will be converted to your base currency, using the exchange rates that were in effect at the time of the first receipt made to the purchase order.

 

AR-A  Enter Customers

Field Explanations

Currency

If multiple currency processing is activated in IM-A  International Configuration, enter the currency code in this field for the currency this customer uses for transactions.  The currency must be previously set up in IM-B  Enter Multiple Currencies. This is a default field that can be overridden when entering a sales order.  You can therefore transact in multiple companies with the same customer, if needed.

Tax-In Code

If any sales to this customer are subject to excise taxes in which the sales tax is embedded in the price of the item, enter a Y in this field.  If excise tax processing has been activated in IM-A  International Configuration, this will result in the taxes being backed out of the price for General Ledger and sales analysis purposes.

 

AR-B  Enter Vouchers

Multi-Currency Processing

If you are using multi-currency processing, you can enter a voucher in a foreign currency.

When doing so, make all your entries in source currency.  During processing the credit side of the transaction will be converted to base currency at the current rate maintained in IM-C  Enter Currency Exchange Rates.  The debit side of the transaction will post in source currency to this currency's AR Control account.

AR-C  Record Payments

Multi-Currency Processing

If you are using multi-currency processing, you can invoice and receive customer payments in foreign currencies. General Ledger posting is as follows.

If the Pay option in IM-A  International Configuration is set to N, a credit (in source currency) is made to the AR Control Account.  The offsetting debit (in source currency) is made to this currency's Bank Account.

If the Pay option in IM-A set to Y, there are two GL transactions.  The first one is the same as in the paragraph above.  The second is a currency conversion transaction whereby the amount of the payment is converted to your base currency using the exchange rate maintained in IM-C  Enter Currency Exchange Rates.  This base currency amount is then credited to this currency's F/E Gain/Loss-Trxns account and the offsetting amount is debited to this currency's F/E Gain/Loss-Conversions account.  Thus, the gain or loss is recognized at the time of transaction rather than when the Convert to Base Currency routine is run.

 

AR-F  Print Aging

Multi-Currency Reporting

If you are using multi-currency processing, the Accounts Receivable for each currency is maintained in source currency.

You can run this report in source currency or in base currency.  Be aware that if you run the report in source currency and include more than one currency on the report, the grand totals will have no meaning.

If you run the report in base currency in order to reconcile the grand total with the total of your General Ledger AR balances (you will have an AR Control account and AR Conversion account for each currency -- which added together equal that currency's total AR amount in base currency), be sure and run the Convert to Base Currency routine in IM-B, Enter Multiple Currencies, beforehand so that your source currency AR accounts get translated into base currency.  

Field Explanations

You will be given access to the following fields if you have multi currency processing enabled.

Currency

You can enter a from/thru range of currency codes if you want to confine this report to Accounts Receivable within a currency or range of currencies.

Print in Base or Source Currency?

If you enter an S in this field, any Accounts Receivable transacted in foreign currency (source currency) will print in that currency.  If you mix and match the report with Accounts Receivable in base currency, be aware that the grand totals will have no meaning because you are mixing different currencies on the same report.

 

AR-L  Transfer Sales Taxes

Multi-Currency Processing

If you are using multi-currency processing, you can choose to pay tax authority vendors in another currency.

Even though the sales tax payable amount was originally converted and posted in base currency at the time of the original transaction, the amount of the sales tax owed is stored in source currency for purposes of this program.  When you transfer sales taxes stored in source currency, the program will transfer the amount in the currency assigned to the tax authority vendor in AP-A  Enter Vendors.

If the tax authority vendor is set up to use source currency, a credit is made to this currency's AP Control account.  The source currency amount is converted to base currency, and then a debit for this amount is made to your default Sales Tax Payable account.  The difference between the two amounts is posted to your F/E Gain/Loss-Trxns account.

If the tax authority vendor is set up to use base currency, the source currency amount is converted to base currency and a credit for this amount is made to your base currency's AP Control acct.  The debit entry is made to your default Sales Tax Payable account.

GL-K  Transfer Bank Account Funds

Multi-Currency Processing

If you are using multi-currency processing, you can maintain bank accounts in foreign currencies.  If you transfer money from base currency to source currency or vice-versa, or from one source currency to another, this program will make the appropriate conversions using current exchange rates maintained in IM-C  Enter Currency Exchange Rates.

General Ledger posting will remain in source currency.  Any difference between source and base currency amounts, or between two source currency amounts, will be an offsetting entry to your F/E Gain/Loss-Trxns account.

 

IN-A  Inventory Inquiry

Multi-Currency & Landed Cost Processing

If you are using multi-currency processing, be aware that the Last and Average costs of purchased items that are shown in IN-A, Inventory Inquiry, will reflect foreign currency fluctuations that can vary from transaction to transaction.

Also be aware that if landed cost processing is being used, the Last and Average costs will be increased by landed costs such as duty charges, brokerage fees, and freight.

 

IN-B  Enter Inventory

Field Explanations

You will be given access to the following fields based on settings in IM-A  International Configuration.

Tax-In

If the item is subject to an excise tax in which a tax is embedded in its selling or purchase price, set this field to Y.  Upon invoice posting or purchase order receiving, this will cause the tax to be backed out of the price for General Ledger, sales analysis, and tax reporting purposes.  See IM-G  Enter Tax-In Codes for more details.

Duty Code

This is the 3-character code that comprises the second half of the 6-character code used in IM-E  Enter Landed Cost Duty Codes to establish a duty rate for landed cost processing.  In essence it represents the Item Classification Rate specific to this item when imported from a particular country.

 

PO-A  Enter Purchase Orders

Field Explanations

Currency

This field defaults to the currency code assigned to this vendor in AP-A  Enter Vendors.  You can override this field and use another currency than the default currency, if you wish.

 

PO-C  Receive Purchase Orders

Multi-Currency Processing

If you are using multi-currency processing, you can place purchase orders with vendors in foreign currencies.

If a foreign currency is specified in the Currency field in the purchase order header, the program will convert each line item's cost from source currency to base currency (using the closest historical exchange rate) when posting to the Inventory or WIP general ledger accounts and when calculating the Last and Average cost.  The PO's Received not Invoiced general ledger account is posted to in the source currency.  The difference between base currency and source currency postings will be posted to the F/E Transactions account set up in IM-C  Enter Currency Exchange Rates.

Landed Cost Processing

When receiving the purchase order, you can enter a customs broker in the Customs Broker field.  The program will then add the brokerage fees as set up in IM-F  Enter Landed Cost Customs Fees to the inventory cost of the item.

The program will also take the duty code assigned to the vendor in AP-A  Enter Vendors and combine it with the duty code assigned to each item in IN-B  Enter Inventory and will calculate a duty fee that will be added to the inventory cost of each item.

These landed cost entries to inventory are all made in base currency.

 

PO-I-A  Print Open Purchase Orders Listing

Field Explanation:

You will be given access to the following field if you are using multi-currency processing.

Print in Base/Source Currency?

If you enter a B the report will print in base currency, meaning that it will convert all orders in source currency to base currency using the exchange rates that were in effect at the time of first PO receipt, or at today's rate if there have been no receipts.

 

PO-I-B  Print Closed Purchase Orders Listing

Field Explanation:

You will be given access to the following field if you are using multi-currency processing.

Print in Base/Source currency?

If you enter a B the report will print in base currency, meaning that it will convert all orders in source currency to base currency using the exchange rates that were in effect at the time of first PO receipt.

 

PO-I-E  Print Receiving Report

Field Explanation:

You will be given access to the following field if you are using multi-currency processing.

Print in Base/Source currency?

If you enter a B the report will print in base currency, meaning that it will convert all orders in source currency to base currency using the exchange rates that were in effect at the time of first PO receipt.

 

PO-I-F  Print Received not Invoiced

Multi-Currency Reporting

If you are using multi-currency processing, the PO's Rec'd not Invoiced for each currency is maintained in source currency.

You can run this report in source currency or in base currency.  Be aware that if you run the report in source currency and include more than one currency on the report, the grand totals will have no meaning.

If you run the report in base currency in order to reconcile the grand total with the total of your General Ledger PORNI balances (you will have a PORNI Control account and PORNI Conversion account for each currency), be sure and run the Convert to Base Currency routine in IM-B  Enter Multiple Currencies beforehand so that your source currency PORNI accounts are updated for current exchange rates.

 

SA-A  Print Daily Sales/Bookings

Field Explanation:

You will be given access to the following field if you are using multi-currency processing.

Currency [Base/Src]

If you enter a B the report will print in base currency, meaning that it will convert all orders in source currency to base currency using current exchange rates for newly booked orders and the closest historical exchange rate to the invoice date for the sales portion of the report.

 

SA-B  Print Profit by Invoice

Field Explanation:

You will be given access to the following field if you are using multi-currency processing.

Currency [Base/Src]

If you enter a B the report will print in base currency, meaning that it will convert all orders using the closest historical exchange rate to each invoice date.  

 

SA-M  Print User-Defined Detail

Field Explanation:

You will be given access to the following field if you are using multi-currency processing.

Currency [Base/Src]

If you enter a B the report will print in base currency, meaning that it will convert all orders using the closest historical exchange rate to each invoice date.  

 

SA-N  Print User-Defined Summary

Field Explanation:

You will be given access to the following field if you are using multi-currency processing.

Currency [Base/Src]

If you enter a B the report will print in base currency, meaning that it will convert all orders using the closest historical exchange rate to each invoice date.  

 

SO-A  Enter Sales Orders

Field Explanation:

You will be given access to the following field if you are using multi-currency processing.

Currency

This field defaults to the currency code assigned to this customer in AR-A  Enter Customers.  You can override this field and use another currency than the default currency, if you wish.

 

SO-G  Post Invoices

Multi-Currency Processing

If you are using multi-currency processing, you can print and post customer sales orders in foreign currencies.

If you entered a foreign currency code in the Currency field in the sales order header, the program will convert each line item's sales revenue and cost from source currency to base currency (using the closest historical exchange rates to the invoice date) when posting to the Inventory, Sales, Cost of Goods Sold, and Sales Tax Payable GL accounts.  This currency's AR Control account is posted to in the source currency.  The difference between base currency and source currency postings will be posted to the F/E Transactions account set up in IM-B  Enter Multiple Currencies.

 

SO-O-A  Print Open Sales Order Listing

Field Explanation:

You will be given access to the following field if you are using multi-currency processing.

Currency [Base/Src]

If you enter a B the report will print in base currency, meaning that it will convert all orders in source currency to base currency using either the invoice date if invoices have been posted or current exchange rates if no invoices have yet been posted.

 

SO-O-H  Print Invoice Listing

Field Explanation:

You will be given access to the following field if you are using multi-currency processing.

Currency [Base/Src]

If you enter a B the report will print in base currency, meaning that it will convert all orders in source currency to base currency using the exchange rates that were in effect on the date the invoices were posted.  

 

SO-O-I  Print Released Sales Orders

Field Explanation:

You will be given access to the following field if you are using multi-currency processing.

Currency [Base/Src]

If you enter a B the report will print in base currency, meaning that it will convert all orders in source currency to base currency using the date of the first invoice, or no invoices have yet been posted against the sales order, current exchange rates.