Hi Vidhya,
Thanks for your prompt response. The problem I have is this:
The entry should have been like this:
Dr Bank 18,000.00
Cr Customer 15,000.00
Cr DIE (Gain) 3,000.00
However, entry generated is as follows:
Dr Bank 15,000.00
Cr Customer 15,000.00
Cr DIE (Gain) 0.00
This second entry is clearly wrong and definitely is as a result of the configuration the consultant did. I'm reviewing all the config at this time, and I have found a few wrong configs that I need to test in the Sandbox, but I'm unable to do so at the moment because of access problem.
Some of the wrong configs are:
1. In one of the valuation methods (Z1), We chose 'always evaluate' and 'determine exch
rate type from account balance' and (minimum difference is '0'). It should have read
determine exch rate type from Invoice Reference instead. Also, I want to delete '0' from
the minimum difference field.
2. In determining the Valuation Area, currency type selected was 'group currency' instead of local currency. Since group currency is USD, it's probably not reading any difference in exchange as a result, when clearing an open invoice item in USD with a USD incoming payment. This might just be the real cause of the problem, but I won't know until I am able to run a test in my sandbox.
I'll let you know the outcome at some point in time today.
Cheers,
Effurun
| | | ---------------Original Message---------------
From: Vidhya Dhar
Sent: Saturday, October 01, 2011 3:28 PM
Subject: Run foreign currency valuation for a GL account which is not maintained on 'open item management' basis
Hi
There could be many reasons for this:
1. Did the log generated after F C valuation show creation of any
document(s) ?
Usually the line lay out in the document ignores the field amount in local
currency and shows up amount in document currency ( which always shows 0.00
) . Try changing the layout by including the field " Amount in Local
currency " and view the details.
2. What is the valuation method used by you ?
If you had chosen "Lowest Value / Strict lowest Value " principle, then
gains are ignored by the system. In your case, there is a gain of 3000 Local
currency units which might have been ignored by the system. Normally, the
valuation method is chosen in line with standard reporting requirement which
is account principle specific / statutorily required . Try changing the
valuation method and you might see the entry you want to see.
3. If the F C related configuration / end user parameters are incomplete /
incorrect, you might not see an entry for difference in exchange.
Check them out, please.
Regards
VidhyaDhar |
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