Article credit: Sage
How and why would Evolution ever be able to display a negative foreign currency balance but a positive local currency balance (or vice versa) for the same customer/supplier account? And do you resolve this?
As an example, look at the following AR Enquiries screen:
Total Debits in local Currency: R3800
Total Credits in local Currency: R2400
Balance in Local Currency: R1400
Total Debits in Foreign Currency: $1400
Total Credits in Foreign Currency: $2400
Balance in Foreign Currency: -$1000
REASON AND SOLUTION:
One way the above can be recreated is as follows:
1) Process a $1000 invoice but use a 1:1 foreign currency to local currency exchange
result of client capturing mistakes)
2) Process a $400 invoice but use a 1:7 foreign currency to local currency exchange rate local currency to foreign currency exchange
3) Process a $1200 payment that also includes a $1200 discount amount , and again use a 1:1 foreign currency to local currency exchange
4) Don’t allocate any transactions and the above balances should be the result
The solution here would be to simply allocate all credits to debits and then the local and foreign currency balances should both be negative.
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.
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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