Foreign And Local Customer Or Supplier Currency Balances Not Both Zero When Supposed To Be Fully Paid Up

Article, Knowledgebase

Article credit: Sage 

Article Outline Foreign and local customer or supplier currency
balances not both zero when supposed to be fully paid
up.
Knowledge Type Solving an unknown issue
Knowledge Activity Processing
Application Version V7.20.4.000
Application Edition Evolution Standard / Sage 100 Evolution
Evolution Premium / Sage 200 Evolution
Primary Module Foreign-Currency
Secondary Module Foreign-Currency
Knowledge Source Incoming Customer Query

 

Description of the Issue

Users may observe that the foreign customer or supplier currency account outstanding balances are not both zero when the account balance is supposed to be fully paid up.

The expectation should always be that as soon as either the local or foreign currency outstanding balance is zero (0.00) the other currency balance should also be zero.

For example, notice the outstanding local currency balance below, as can be seen at the bottom of the Account Receivable | Transactions | Standard screen.

Diagnosing the Issue

The issue seems to occur randomly and can be replicated in the following scenarios:

  • occurs on all users/workstations/branches on a company database
  • occurs on a different company database in the same environment
  • occurs on the same company database in a different environment
  • occurs on a new company database in a different environment

 

Solution / Details

The following steps explain how to resolve the abovementioned query:

  1. First, note that the above discrepancy may be due to a known rounding issue when
    a payment is allocated to the foreign currency customer/supplier account.
    Although this payment is supposed to clear the customer/supplier account balance,
    the rounding effect may cause one or more cents to remain on the local currency
    account balance.
  2.  If this is for a foreign customer, fix this issue by processing a new AR or AP Journal
    batch, setting the Credit (Incl.) (for suppliers this will be on the Debit (incl.) field)
    value = 0.01 (or the specific outstanding cents balance that needs to be cleared) and
    set the Exchange Rate to 9999999999.
  3. Note that since no actual foreign currency value is generated/calculated in the above
    step, this new transaction cannot be allocated, and the user may still notice on the
    Allocation screen that the local currency Credit value = 0.01 and the Foreign Credit
    value = 0.00
  4. The result of doing the above should now be that both the local and foreign currency
    outstanding balances = zero

Disclaimer: These articles refer to possible solutions and a platform to share information. Each article describes a method that solved a query (knowledge gathered from previous sites) and how Sage Evolution should operate. These articles make reference to a specific Sage Evolution version, however the thought process can be generalised. Please note the information contained in these articles should be treated as guidelines and adapted to accommodate differences in business processes and IT environments. Articles may not be applicable to all environments. If this article did not resolve your query please contact Kiteview Technologies Support Department on:  (+27) 010 005 6678.

About Us
Kiteview Technologies (Pty) Ltd was founded in May 2010 to provide the Sage Evolution Business Management solution to the SME market. The management team of Kiteview have combined +30 years of experience in the delivery of small to mid-market Financial & Business Management solutions. This experience, combined with a sound project implementation methodology has helped in Kiteview’s growth, becoming a Platinum status partner for SAGE Pastel within just 1 year.

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