Thank you, @Brucanna, for so nicely illustrating what I have been saying all along. In your example, you point out the need to manually convert the Z amount from the clearing account into the currency of the goods inventory so automatic allocation works. Make other cases as complex as you like, but the need for goods and freight-in invoices to somehow be reduced to a common currency remains.
SORRY, what you have been saying all along and which you have repeated several times in post #19 is that (1) purchase invoices currencies MUST MATCH if you want to use automatic allocation or (2) MISMATCHED purchase invoices currencies are not suitable for automatic allocation.
Yet within the examples provided in post #20 both of your expressed conditions have been clearly and totally contradicted, (with the invoice currencies NOT matching), therefore it is beyond reasonable comprehension to understand how you can now claim how these clearly opposing illustrations of your strongly stated position can also be the same confirmation of your position.
Yes, and thank you for finally acknowledging the point âinto the currency of the goods inventory so automatic allocation worksâ A point which the Guide totally ignores.
Yes, and thank you again for finally acknowledging the fact âthe need for . . . invoices to . . . be reduced to a common currency remainsâ. Once again a point which the Guide totally ignores.
Therefore getting back to the current Guide statement ââBoth the original supplier and the separate freight-in supplier are denominated in the same currencyâ. Is factually incorrect as the invoices themselves donât have to be âin the same currencyâ.
Whereas, the Guide should say using @tut own words is this âBoth the original supplier and the separate freight-in suppliers invoices need to be reduced to a common currencyâ. This common currency occurs within the Balance Sheet clearing account.
The Guide then should included an illustration of how the Z amount is calculated and used.
@tut, this is the exact same position I put to you in 2017 with regards to multiple currencies and which you rejected outright and based on your aggression in defending the current Guide I donât foresee any changes even though you have now made acknowledgements which didnât occur in 2017.
Hi i have been using desktop version for past one year now finally decided to buy cloud version i am using the cloud for past two months so far i am happy with everything, now have a bit challenge on multi currency, i need to produce the invoice in euros and show the base currency total in bottom as per the current date exchange rate. i am not good on customizing will appreciate if you gues can help me with easy possible option to show the both currencies in invoice
1 Like
That capability does not exist in Manager. You would need to add a custom field and manually calculate and enter the amount in your base currency. Understand that what you enter in the custom field would have no impact anywhere else in the program. Manager will still convert the payable amount to base currency for reporting in Accounts payable based on exchange rates entered.
@link2asif Confirm you are talking about purchase invoices? For sales invoices there is an option to display the amount in the base currency. But purchase invoices are usually used only for internal purposes, not issued to another business, so there doesnât seem to be any reason to have that option for a purchase invoice.
If you can explain why you need it perhaps somebody can help you achieve what you need by another means. For example, if you just want to be able to see the base currency amount of the purchase invoice, that is visible in various reports and drill-downs.
1 Like
I donât understand why purchase invoices can only be in the base currency? Yet payments can be recorded in various currencies. So if my base currency is USD and I make a Euro purchase how do I enter it? I can easily record the payment in Euro, but it doesnât then match the invoice.
What do you mean?
If you purchase invoice is in euro, then surely you make the payment in euro?
Why wouldnât the payment match the invoice?
If someone invoices you for 100 euro, you hardly pay them 120 euro or 80 euro?
@ProDev, the recent revival of this thread is not about whether you can enter or pay purchase invoices in foreign currencies. You can do both. The question that restarted this thread was about showing the base currency amount at the bottom of a foreign currency purchase invoice. You can do that on sales invoices, but not purchase invoices, because there is no need.
The currency of a purchase invoice will be set by the currency of the supplier. The currency of the payment will be set by the currency of the bank or cash account used to pay the invoice.
Thanks for prompt response. Sorry if in wrong thread. I understand, but how do I enter the suppliers invoice into Manager when Manager only allows my base currency. So say my base currency is usd and I have other currencies set up eg. ZWL$ I purchase from a supplier whose currency is ZWL$ but I can only enter that invoice into Manager in USD$. Yet when I record the payment i can record it in ZWL$ (as I have a cash account in ZWK$).
Sorry but makes no sense to me cause the payment cannot reconcile with the invoice as they are in different currencies.
Ciao
Neil
| Tut
November 2 |
- | - |
@ProDev, the recent revival of this thread is not about whether you can enter or pay purchase invoices in foreign currencies. You can do both. The question that restarted this thread was about showing the base currency amount at the bottom of a foreign currency purchase invoice. You can do that on sales invoices, but not purchase invoices, because there is no need.
The currency of a purchase invoice will be set by the currency of the supplier. The currency of the payment will be set by the currency of the bank or cash account used to pay the invoice.
As @Tut said:
So if you want to enter a purchase invoice as ZWL$, the supplier must be designated in that currency. Go to the edit screen for that supplier and set their currency there. If you will want to do USD and ZWL transactions with the same supplier, you will need to create two suppliers, one for each currency. Then when you are creating a purchase invoice in Manager, you will see that the currency of that purchase invoice will depend on which supplier you select.
You will have to define the currencies in Foreign Currencies in Settings before you can select them for a supplier. Iâd suggest reading through the guide: https://www.manager.io/guides/9158
Manager allows any currency you define in the settings.
So then set that supplierâs currency to be ZWL$, and all purchase invoices from them will be in ZWL$.
They can only be in the currency of the supplier. If you havenât set the supplier to be in a currency other than your base currency, then this will be your base currency.
1 Like
Awesome Graham, thanks for taking the time to help with very clear guidance.
Thank you so much for your taking time to respond, as you rightly stated about purchase invoice that is for internal use, for which i do not required and modification, my concern is sales invoice, where i want to show the total amount in base currency along with exchange rate as per system record rather then doing manually.
for example currently the invoice shows âtotal amount in TLâ i want show as " total amount in TL based on exchange rate today" and then whatever the exchange rate is feed in system.