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Case 1.1: Invoice and Payment are both in INR-
Create an AP Payment-1000000 in INR for Rs.7533 with currency type as Bank Rate on 10.04.2022
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Particulars | Debit | Credit |
Payment Selection | 100.00 |
|
Checking in Transfer |
| 100.00 |
Create an AP Invoice-1000069 in INR for Rs.7533 with currency type as Spot Rate on 15.04.2022
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Particulars | Debit | Credit |
Payment Selection | 100 |
|
Checking in Transfer |
| 100 |
Create Create an AP Invoice-1000005 in INR for Rs.7333 with currency type as Spot Rate on 15.04.2022
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At this time, system will convert the Invoice amount to INR, Currency Type-Bank Rate with Conversion date-10/04/2022.
2.73= (7533/73.33) -(7533/75.33), System will Calculate the gain and loss.
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When Payment is done after Invoice
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Particulars | Debit | Credit |
Account Payable Trade | 100.00 |
|
Payment Selection |
| 100.00 |
Gain and Loss | 2.65 |
|
Payment Selection |
| 2.65 |
Note:
At this time, system will convert the Invoice amount to USD, Currency Type-Spot with Conversion date-15/04/2022.
2.65= (7333/73.33) -(7333/75.33), System will Calculate the gain and loss.
Invoice to Invoice (Base Currency: USD)
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At this time, system will convert the Invoice amount to INR, Currency Type-Spot with Conversion date-15/04/2022.
System will Set Currency Rate Type of AP credit memo as it has Highest Account date present.
2.73= (7533/73.33) -(7533/75.33), System will Calculate the gain and loss.
Case 3.1.2: AP Invoice and AP Credit Memo are both in USD
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