It is assumed that the bank account ledger is maintained in foreign currency.
In a payment voucher (bank payment):
| 1. | Enter the date and voucher number. |
| 2. | Debit the supplier |
| 3. | In the amount field, begin with the forex symbol |
| 4. | You can debit the supplier with the same amount and exchange the rate as before or even change the rate to the current rate. Here, the rate is changed to the current rate. Notice the display of pending bills in foreign exchange when you are asked to adjust the payment against previous reference (it would come up if you have bill-wise outstandings activated). |
| 5. | The forex gain or loss in the transaction is automatically calculated and is shown as unadjusted Forex gain/loss in the Balance Sheet. You can pass a journal entry affecting the profit and loss account with the forex gain/loss figure to bring it into the books. |
When you display ledger account of the supplier, you will notice that its account has balanced out but a forex gain has accrued on the transaction due to a rise in the exchange rate for the dollar.
Advanced inventory vouchers
There is no separate section on this. Normal inventory voucher entry includes a discussion on the advanced issues.