Multi-Currency Opening (Journal) Entry for Dual Currency Supplier

ERPNext
1

I’m migrating legacy data of a company to ERPNext. The Company has multiple suppliers with payable balances in 2 currencies (usd & ngn). To support multi-currency transactions, I set both Company and Supplier currency to Company currency (ngn). There was no issue posting the opening entry (journal entry) for the ngn balance. However, I get the error when I attempt to submit the usd opening balance

“Supplier XX Ltd has accounting entries in currency NGN for company XYZ. Please select a receivable or payable account with currency NGN”

Can anyone recommend a method to migrate post opening balances for a supplier with outstanding in 2 or more currencies into ERPNext?

Journal Entry
Journal Entry950×612 35.2 KB

Error msg

2

If each supplier has only one currency, then you can follow this.

  1. first create a Creditor account in the Chart of accounts in USD currency
  2. In the Supplier Account tab select the USD account for this supplier.
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    image1077×395 15.7 KB

if you want dual currency for the same supplier. it’s quite difficult you need to override standard validation (Not recommended)

1 Like
3

@mainul thanks for your prompt attention. I need to use multi currency for same supplier. I will no like to override standard validation because of complications with other transactions. Is there any other alternative?
Is it an option to create same supplier more than once I.e a variant for each currency?

4

You can create same supplier for each currency but reconciliation with the supplier may be harder depending on your situation.

5

Did you found any solution for this ?

6

Yes, we converted the opening balance to single currency for the vendor and manually treated payment entry for each currency at the time of payment (using same exchange rate applied on the open balance). It’s manual, but it got the job done