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Slide notes: We want to show an example of processing a Customer Receipt when the Customer Account is managed in a linked Currency.

 

 

 

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Slide notes: There are multiple Journal options for Customer Receipts, but the example we want to look at is a multi-feature Receipt Journal that can process a Receipt through the Cash Book, Bank or Cash, or through a standard GL Account. This Journal is therefore offered in the Cash Book.

 

 

 

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Slide notes: And the same Journal option is also offered as a Debtor Journal option. It really does not matter which option we use, irrespective of which Receipt Account we use - The Cash Book will still be aware when the Cash Book is affected, and the General Ledger will still be aware if a GL Receipt is used from the Cash Book entry point.

 

 

 

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Slide notes: The Receipt Account may be in any Currency, although the Customer Account with this Journal must be a linked Currency Account, also called a Forex Account.

 

 

 

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Slide notes: The usual approach will be to use a Receipt Account of the same Currency as the Customer Account, whether Bank, Cash of GL.

 

 

 

 

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Slide notes: In this case, our local Currency is ZAR, and therefore USD is a Forex Currency.

 

 

 

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Slide notes: We will usually specify the Forex Amount, and we can of course also specify the Exchange Rate, but if we do not then it will be picked up from the Currency Exchange Register.

 

 

 

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Slide notes: We can see that the Received Amounts have now been updated and are displayed.

 

 

 

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Slide notes: Even though the Customer Settlement detail is still unknown.

 

 

 

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Slide notes: Since we have selected a Customer Account that is also USD, the Settlement details have now been updated with the same Values as the Received Amount detail.

 

 

 

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Slide notes: So what if we change the Receipt Account to a EUR Account? We will still be able to process a Receipt for the same USD Customer.

 

 

 

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Slide notes: Again, we see the Received Values being updated, whereas the Customer details are yet unknown.

 

 

 

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Slide notes: Now, because we selected a USD Customer but we are using a EUR Receipt Account, of course we may enter the preferred Exchange Rate into USD. This is dependent on our system Exchange Rate Sensing settings, and if preferred, this Rate can be automatically picked from the Exchange Rate Register.

 

 

 

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Slide notes: Now we can see the details of our EUR Receipt, and at the same time we have settlement details for the Customer side, in USD.

 

 

 

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Slide notes: It is optional to process Discount at the same time.

 

 

 

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Slide notes: By default, the system will check for Gain/Loss on the Exchange Rate for this Payment, and we can switch it off if it is unwanted.

 

 

 

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Slide notes: We can choose to print a Receipt at the same time, if needed.

 

 

 

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Slide notes: And in the case of processing Discount, we may also optionally adjust the Discount with a Tax claim.

 

 

 

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Slide notes: If we have the Gain/Loss option checked, then the system will offer matching if the Customer Account is Open Item managed, so that the Gain/Loss can be accurately calculated based on the Charges being settled.

If the Customer Account is Balance Forward or we do not perform the Matching, then the Gain/Loss will be calculated by a method of Payment proportion to Account Balance.

 

 

 

 

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Slide notes: Finally, if we should drill this Transaction afterwards, we can see the detail of what has been posted.

 

 

 

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Slide notes: Whereas the current view is showing the Local Currency Values, we can see the EUR Receipt on the 1st line, and the Debtor Payment on the 2nd.

 

 

 

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Slide notes: The Debtor Payment is the current Transaction in the Transaction family that we are looking at, and on the left we can see the local and Forex Values of the Payment.

 

 

 

 

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Slide notes: Then we can see where the Discount has been posted, and finally the Forex Gain.

 

 

 

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