Multiple advance payments with different currency and A/P

ERPNext Accounting
#1

Hi,

I’m facing the problem with multiple advance payments with different currency…

Bellow is the situation…

  1. Make a purchase order to USD supplier (with rate 13,846)
  2. At the same month of PO, 20% advance payment to supplier (with rate 13,846)
  3. At the next month of PO, 80% advance payment to supplier (with rate 13,395)
  4. Receive item and make purchase invoice with rate of month (13,395)

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After process this, Account Payable page shows record like bellow,

  • Invoiced Amount : 97,113,750 IDR
  • Paid Amount : 97,767,700 IDR
  • Outstanding Amount : -653,950 IDR

I want to clear this recrod by input ‘Loss Foreign Exchange’ but can’t do because billing currency.

  • System Currency : IDR
  • Supplier Currency : USD

How can I clear this account payable problem?

Please advise…

#2

@zemna

Multi Currency is available in ERPNext.
Please refer following links.

https://frappe.github.io/erpnext/user/manual/en/accounts/multi-currency-accounting.html
https://frappe.github.io/erpnext/user/manual/en/accounts/articles/managing-transactions-in-multiple-currency.html

You can also do following JV:
Invoice Amount: 97,113,750

JV:
Paid Amount(Supplier Account CR): 97,113,750 IDR
Bank Account(Debit): 97,767,700: IDR
Currency Exchange/Gain(Debit): 653,950 IDR

#3

Thank you for reply…

  • I already journaled when I payment in advance like bellow…
  • Account ledger after I made purchase receipt like bellow…
  • Account ledger after I made purchase invoice like bellow…
  • Account payable data shows amount like bellow… (minus outstanding amount)
  • I try to make a new JV to clear loss foreign exchange
  • I can’t input correct IDR amount with ‘Creditor (USD)’ account ledger. Because it is USD…

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How can I input loss foreign exchange about this situation?

Thank you…

#4

@zemna You can select customer account currency in USD and Pay JV in USD(which is different from company currency IDR).

I have made some demo transaction, Please check.
Company Currency: USD
Customer Currency: CNY
On JV Customer also paying in CNY

You can need to login on demo and then open following link

https://demo.erpnext.com/desk#Form/Journal%20Entry/JV-00079