I have an issue with ERP Next when posting payment entries where the invoice was billed to one company but paid for by another (parent company)
The exact scenario:
Company A operates using USD and is a parent to company B operating in NGN.
A purchase invoice was raised against Company B in USD and this invoice is supposed to be paid by Company A.
When the invoice is posted, naturally, the system converts to Company B’s currency.
However, when I try to post a payment entry where Company A pays the invoice, something strange happens. Please see screenshots:
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System does not pick the exchange rate set in the currency exchange list for that day.
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System is recognizing the allocated amount in NGN (after manually updating it) but also recognizing same amount in USD, arising in the difference amount (when posted would be exchange gain/loss)
Has anyone encountered this issue or something similar and navigated around it or found solution? Or Am I doing something wrong?
Please assist.
** Plase note that exchange rate list has been updated for the transaction dates.