Re: [SL] Cross currency invoice entry

[Ed W <li...@wi...>]

Dr Eberhard Lisse wrote:
> The solution is to take the rate you get for buying the USD and to stick
> the slip to the invoice which you file.
>
> I have this occasionally when I pay by credit card. I take the amount
> that the credit card debits from my account andit is only one simple entry.
>   

You said exactly this already - either I don't understand what you are 
saying or you missed my reply?

The basics here are that:

a) The invoice has to get entered today in foreign currency
b) I might not pay the bill for 1-6 months time, hence I won't have an 
actual rate for it until after a year end of tax quarter.  Therefore I 
need to account for it on an accrual basis

I already entered my first invoice in using the foreign currency, but I 
am unsure how to pay it... There is a rate option in the payment page 
when paying a foreign currency invoice, but again it pulls out the 
generic rate for today (entered using a CRON job) and so again we will 
have a small FX deviation - I'm just not quite sure how to enter this

Additionally I am not sure what is going to happen to the cost of goods 
once I enter the payment - will these be affected or is the rate used 
only to enter an FX accrual for me automatically?

Ed W