How to enter an AP invoice that utilizes currency.
AP Invoice Entry-
To begin, you should make sure that the currency exchange setup for Accounts Payable has been completed (See knowledge article).
To enter an invoice with currency, you will open AP invoice entry under the accounting tab and add a new journal.
If you have set up your vendors correctly, when you enter
the vendor you will see that the payables account will automatically populate with
the currency payables account and a conversion rate it automatically populated
for you. You will enter the amount of the invoice in the foreign currency that
is received from the vendor. If you need
to manually adjust the conversion rate used, you can do so in the conversion
rate field. If you would like to override
the vendor’s currency settings and post the invoice without currency exchange,
you can check the “override currency conversion” box. Once you have verified
the amounts, add the invoice using the black plus icon.
Choose the invoice distribution account, and then add the invoice distribution after adding the invoice. When you add the distribution information, you should see a line post to the distribution account for the total amount of invoice with currency, and then a second line that will calculate just the currency exchange amount that will post to the exchange account that you set up previously. See below:
Related Articles
How do I edit a recurring AP invoice?
To edit or stop a recurring invoice, you will need to select the invoice within AP inquiry that you created. If you double click on the invoice line in AP inquiry that is set to be recurring, Softbase will open AP Invoice Recurring Maintenance and ...How do I apply a credit and debit invoice in AP payments against each other?
In AP payments, we can see vendor ZIO000 has two “invoices” that offset each other, but the system is unable to match them because the invoice numbers are different. Because the system is unable to clear them for you, you can accomplish this using AP ...How to apply a credit in AP with a journal entry
When a user voids a check, the invoice will be reinstated into your payables and will be available for selection in AP payments to pay again. If you need to take a credit against that invoice, however, you cannot use the "apply to" change option in ...Paying an AR customer invoice with a credit memo from a vendor.
This process is often used when you have a vendor account that is also a customer. If the vendor issues a credit to issue against an invoice on the AR side, you can apply the credit within the AP process to apply it against an AR invoice. This will ...How do I receive in parts with currency?
To order and receive parts in a foreign currency, you will first open up the purchase order application and create a new purchase order to the applicable vendor. You can see if that vendor for your purchase order is set up for currency on the ...