Best Company Setup?

Good day,
I am a newbie and installed the virtual machine version for testing.
I’ve been playing around a bit and seem to run into issues. I have the following situation and would appreciate advise from the experience on the forum on how I should implement the company structure, accounting, tax, quotes etc.

I have a company in RSA that is the agent for 4 French companies.
I would like to issue quotes on each of the 4 French Companies’ “Letter Heads” based on the information received from French companies. These quotes would be in EUR / USD.
I would also issue quotes & orders from my local company in ZAR.

How do you propose I implement such a setup?

basically ERPNext knows 3 ‘parties’ in a Sales/Purchase kind of relation

  1. The Company
    (controlled by you, the entity that actually runs ERPNext)
  2. Supplier
    provide you with quotations/Invoices, etc and get paid for goods or services by you Company
  3. Customer
    the opposite of Supplier. The Company issues Quotes/Invoices … to them and receives money for goods/services

The Company sits in the middle between Supplier and Customer, so to speak.

Supplier > Company < Customer

So you need to sort all partners you work with in this categories in your understanding at first. If you have done that many things fall in place in the understanding I believe.

so you are in a Multi Currency scenario which results into certain challenges.

Essential for the initial understanding is that you can deal with any partner (no matter Supplier or Customer) only in one Currency. This (working) currency is defined in the Customer’s/Supplier’s Master Document (of each individual Party).

You have a Default Currency (ZAR I assume) and would need to define in a Customer’s Master Document that this particular Customer deals i.e. in EUR. Once defined this currency is set and all transaction between The Company (you) and that particular Customer is issued in EUR in the logic of ERPNext. There is no way to change this.

All non-default currency transactions go through an exchange calculation (even if such a transaction may never touch the default currency. I.e. you have a supplier with whom you deal in USD and you pay that supplier in USD, for an Invoice in USD from a bank account in USD).