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Knowledgebase: Transactions
When will foreign exchange be realised?
Modified on 14 March 2013 08:36 PM

As part of the month end procedure, once the sub-ledgers period has been closed, run the appropriate Debtors/Creditors Forex utility for the newly closed period from within the Accounting module.

Overview

When working with multiple currencies in Tourplan, foreign exchange differences may occur if the rate of exchange varies when applying payments, receipts or credit notes against an Invoice. This may cause a base currency balance to remain (foreign exchange variation) against the Debtor or Creditor even though the foreign currency balance has been fully cleared.

The most common reason for realized Forex  not being generated is that there are still ’open’ transactions on the account. To see if this is the problem, go into the relevant transaction entry screen and try to enter a Receipt/Payment. If Invoices still appear for you to Pay/Receipt they have not been fully allocated. Adjustments of any miss-allocations should result in realized Forex being generated at the next period closing.

 

Read more about Forex processing in the Accounts Training Guide 2*

 

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