Foreign Exchange
Hello!
Currently in database, when we make a payment in a foreign currency, we enter the foreign gain/loss as a miscellaneous entry (under GL Distribution) so it doesn't impact our A/P payment process, however how do we do this in FENXT?
As an example - we have an invoice for 300 USD, we enter the invoice as such but since our system is in CAD, we need to account for a foreign gain/loss based on the exchange rate and that entry is done via “miscellaneous entries”. No idea where that would be in FE NXT…
Many thanks!
Comments
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@Ankita Bhavsar
web view won't be supporting Miscellaneous entries. Likely you'd have to rely on journal entries so you're not affecting the direct AP process.0 -
@Kevin Brazell oooh interesting - thanks Kevin!
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@Kevin Brazell Just a follow-up question - is there a way to link the journal to the vendor or would it need to be via notes or description?
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@Ankita Bhavsar you would have to do a note, or attachment etc. The JE's from GL directly, don't directly link to vendors.
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