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Below is the screenshot of Payment Allocation Form.
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A new Parameter has been added with the name of ''Currency Type'‘, it will only get displayed while doing multi-Currency allocation. System filters the Payments as per the Currency Type and Conversion Date. User can only select those Payments, which has the same Currency Type and Conversion Type. If user tries to select Payment of different currency conversion type, system shows the info message ''Please Select Payment same as Currency Type and Conversion date''.
System always convert the Invoice as per the conversion rate and Currency type. (In case allocating Invoice to Payment Multi-Currency or Invoice to Invoice).
This feature helps the user to allocate different Currency Types for Invoice with Payments and Invoice with Invoice.
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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 |
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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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Particulars | Debit | Credit |
Payment Selection | 100.00 |
|
Checking in Transfer |
| 100.00 |
Create an AP Invoice-1000070 in INR for Rs.7533 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 |
Payment Selection | 100 |
|
Checking in Transfer |
| 100 |
On Payment Allocation
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Allocation:100XXXX8
Particulars | Debit | Credit |
Account Payable Trade | 100.00 |
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Payment Selection |
| 100.00 |
Gain and Loss | 2.65 |
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Payment Selection |
| 2.65 |
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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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At this time, system will convert the Invoice amount to USD, Currency Type-Spot with Conversion date-15/04/2022.
On Allocating with AP Invoice with AP Credit Memo in Multi-Currency, Allocation should be done in Currency which has the highest account date.
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 3.1.4: AP Invoice is in USD and AP Credit Memo is in INR
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At this time, system will convert the Invoice amount to INR, Currency Type-Spot with Conversion date-15/04/2022.
On Allocating with AP Invoice with AP Credit Memo in Multi-Currency, Allocation should be done in Currency which has the highest account date.
System will Set Currency Rate Type of AP credit memo as it has Highest Account date present.
2.65= (7333/73.33) -(7333/75.33), System will Calculate the gain and loss
3.2 When AP Invoice is created before AP Credit Memo.
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On Allocation line, Amount will set as 100.00 in USD with Currency Type-Spot
2.65= (7333/73.33) -(7333/75.33), Calculate the gain.
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2.73 AP Credit Memo will remain open, user can set-off this by Gl Journal.
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