Re: [SL] Cross currency invoice entry

[Paul T. <pt...@wa...>]

Ed W schreef:
> To enter this I tried the following:
>
> 1) Enter in purchase invoice in USD.  System converts it to nominal=20
> sterling value as at 1st june 2006
> 2) Then enter Cash|Payment for this invoice and enter in $225 as at 1st=
=20
> Jan 2007.  System appears to pickup the rate at that date and puts two=20
> transactions into the cash account, one for a $225 and the other for=20
> around $106 ish (basically it seems to be doing a funny currency=20
> conversion whilst still trying to make $100 =3D=3D =A3100 to keep the l=
edger happy
> 3) Now I am stuck... Probably I have to do the reverse to actually pay=20
> this thing properly, but I don't understand what is happening.
> 4) Additionally in real life my rate is not the spot as of 1st Jan 2007=
=20
> and its slightly different, hence I need a second currency FX=20
> gain/loss...  Probably just enter this in as a transfer, but I still=20
> haven't got my head around this $1 =3D=3D =A31 thing..
>
> Does anyone else understand what SL is trying to do during the above?
>  =20
> Grateful if anyone can help unwind this mess for me please
>
>  =20
I can think of a simple solution: CASH is a physical box with money.
If you also have a USD cash box (or a couple of bucks lying around in=20
the POUND cashbox) you should probably use a separate cash account per=20
currency.
In short: The cash ledger you are using for the payment is not the right=20
one.

Your UK Cash account is setup by the system default to be in UK pounds=20
and will use any transactions including payments of invoices as being in=20
POUNDS STERLING.

Setup a US Dollar cash or bank account, and use the actual payment way=20
AND CURRENCY to record the transaction.
So either buy physical dollars from your bank, either cash or bank.=20
Deposit in USD cash or bank account.
Pay invoice from there.

That way SQL Ledger has a fair chance to get the 1$ <> 1=A3 bit right.