I have a client who has customers that pay in British Pounds.
I believe the currencies are all setup correctly.
When I post a sales invoice for 130 british pounds, it hits the g/l in the local currency of 195 (I’m using an exchange rate of 1.5 for testing purposes).
My client has a british bank setup linked to the GBP currency, same as the customer.
Customer pays with a cheque for 130 British Pounds.
However, when i do my cash receipt, the system is recording the 195 LCY as british pounds.
When I post the cash receipt, the affect on my bank is 195 LCY and 292.5 British Pounds???
Anyone have any idea what I may be doing wrong?
Welcome to DUG!!!
What is your local currency ?
Have you selected the currency code before posting the records ?
Yes, on the sales invoice line, if I use ctrl+F8, the currency is GBP.
and what about the cash receipt.
that’s the weird part.
When i do my cash receipts, the $195 appears but it’s in British Pounds. Somehow, NAV is taking the original 130 Pounds, posting as $195 CDN, but when reconciling it’s registering as 195 British Pounds?
Somehow I need to register at the time of posting the Amount and Amount ($).
Are you selecting currency code in cash receipt before posting.
No, it is defaulting as GBP. If I try to change the currency, it will not allow me.