Forex Currency on Settlement

Create Invoice

• Refer to Create Invoice for the steps
• e.g: Currency Base = USD 3.5
  
  

Settlement / Collection

• Refer to Settlement / Collection for the steps

• e.g: Currency Base = USD 3.7 → Gain (RCT Created)

• You will need to enter Invoice Value under the payment method and the difference between the Invoice and RCT under the Forex Gain or Loss. 
  
  
  
  

• Two Receipt will be created 
  
  

Journal Created for Forex Gain:

Dr. Cashbook RM200

    Cr. ForeignGainLoss RM200

• e.g: Currency Base = USD 3.3 → Loss (PV Created)
  
  
  
  

• RCT and PV created
  
  

Journal Created for Forex Gain:

Dr.  ForeignGainLoss RM200

    Cr.  Cashbook RM200

Upload Settlement

• Refer to Upload Settlement for the steps
• 

on EMP view to key in the settlement:

Reverse RCT

• Refer to Reverse Receipt Voucher

Journal Created for Reversal Receipt:

Dr.  ForeignGainLos RM200

    Cr. Cashbook  RM200

Tips:

• Make sure the configuration is enabled under Customer Configuration → Advanced Options

Related WIKI Pages