Yes, that’s the right place. Posting types PP12 and PP13 are responsible for currency gain and loss postings, you may check their setup in Accounting Rules/ Posting control to see where difference will go. Is there a way to offset invoice and payment done in different currencies? Invoice was entered in NZD currency (1st line in attached) and payment was made from the USD bank account (2nd line in the attached picture). The home currency is in AUD which is where there is a balance outstanding. Under Supplier Offset, offset can only be done when invoice and payment is in the same currency. Is there anyway to work around this in IFS? Thanks, Lawrence
Hi, Guessing from your screenshot attached, you just need to create manual payment: offset and include two open items you present here in this offset. Currency difference will be managed automatically. Hi Adam, That sounds exactly like what I'm after! I’ve been able to do this in other ERP systems in the past, but am new to IFS 9, so am having trouble finding the right session for the offset. Would the attached image be the right place to look at? (Accounts Payable > Manual Payment > Supplier Offset) Or is there another session which would be more appropriate? Would IFS allow me to manually enter in which ledger to write off the difference to? And the Dr/Cr as well? Thanks, Lawrence
IFS10 - I would roll back the supplier payment (if able), add a payment tolerance to the supplier and reapply the payment. The posting should take care of the currency gain/loss. Attached image that hopefully helps explain the current situation
IFS10 - I would roll back the supplier payment (if able), add a payment tolerance to the supplier and reapply the payment. The posting should take care of the currency gain/loss. Would the roll back still work if the payments were done in a previous period which is already closed? Currently using IFS 9, not sure how different it would be. Is there an option to raise a $0 foreign currency payment, with $12.93 in home currency (coded to fx difference), and match/offset the 3 transactions to clear the account off to zero?
Hi Lawrence Definitely sounds like an access issue. You need to be granted access to the companies, of which is usually served in the Solution Manager - Security - Users area. When the admin locates your user record, they can expand ‘Companies & Sites’ - Companies, and then check the required companies. I am struggling to recall if you also need additional ‘Business Roles’ for accessing company information for Balance Analysis… You could find that in the same window - Business Roles - General Ledger - Authorize classes. Of course, you may need to seek approval for such access. I am sure you are aware of all that stuff. Cheers Mike Yes thanks Mike! It was the Authorization Classes that had to be updated. Once I was added into the other companies, all the data populated perfectly! I have another issue with the Supplier Analysis session, but I’ll make another post for that. Edit: I've just figured out I had to manually tick the box ‘Auto Populate’ for data to populate. Weird how
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