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Reply from yasawa-blue on Mar 12 at 10:17 PM Hi kite 203,
The process that we do when processing Invoices to the payment from foreign
vendors are as follows :-
At the Invoice processing stage :-
- Dr Expense
- Cr Vendor
At the payment stage :
- Dr Vendor Account
- Dr/Cr Forex Loss/Gain account
- Cr Sub bank or Payment Clearing account
At the Bank rec/bank clearing account stage
- Dr Sub bank or Payment Clearing account
- Bank account
Hope that helps,
Apenisa Rokobaro
| | | ---------------Original Message---------------
From: Dau Thanh Hai
Sent: Friday, March 11, 2016 3:24 AM
Subject: Double Exchange Rate Gain/Loss
Hello everyone,
We have issue in clearing document as below:
- Starting from incoming invoice in foreign currency:
+ Dr: Expense
+ Cr: Vendor
- Payment:
+ Dr: Vendor
+ Cr: Sub-bank
+ Dr or Cr: Loss or Gain (1 item)
- Bank reconciliation (Post and Clear):
+ Dr: Sub-bank
+ Cr: Main bank
+ Dr: Gain x
+ Cr: Loss x
We have both gain and loss at step bank reconciliation.
The posting increases both gain and loss accounts.
I would like to ask if you have same issue and
if we can eliminate these 2 line if no actual gain/loss.
Thanks. |
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