Case Study: Calculation Of Amounts On Manual Application Of Cross Currency Receipt(Transaction Currency = Ledger Currency & Receipt Currency <> Ledger Currency) (Doc ID 2570566.1)

Last updated on JUNE 13, 2023

Applies to:

Purpose

Manually apply a receipt that is not in Ledger Currency, to a transaction that is in Ledger Currency.

Steps:

1. Navigate to 'Billing' work area

2. Enter a receivable invoice in ledger currency and complete the transaction (Ex: Ledger Currency = 'USD' and Transaction Total (TT) = 144,000.00 USD)

3. Navigate to 'Accounts Receivable' work area

4. Enter receipt in a currency other than ledger currency and select 'Submit and Apply Manually' (Ex: Receipt Currency= 'KWD', Entered Amount (REA)= 45,500.00 KWD, Conversion Rate for conversion date (KWD => USD) (RCR)=3.200512081933109)

Calculations:

Accounted Amount (RAA) = REA * RCR = 45,500.00 * 3.200512081933109 = 145,623.30 USD

Total Applied Amount (TAA) = 0.00 KWD

On Account Amount (OAA) = 0.00 KWD

Unapplied Amount (UA) = 45,500.00 KWD

Exchange Gain or Loss (G/L)= 0.00 USD

5. Under 'Application' tab Click 'Add Open Receivables' button

6. Search transaction created and completed in Step 2 and click 'Add' followed by 'Done'

Scope

1. Transaction Currency is same as Ledger Currency & Receipt Currency is different from Ledger Currency

2. Receipt is applied manually

3. 'Receipt Date' and 'Application Date' are different and 'Cross Currency Rate' (USD <-> TWD) is available in the daily rates table

4. Cross Currency Rate (CCR) from transaction currency (USD) to receipt currency (KWD) available in system for the 'Application Date' = 0.30446

5. This example does not consider any discounts

6. Related setups have been completed

Details

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