hi, I got a problem in Purchase VAT.Now let me explain the senario. My LCY is Mauritius Rupees (MR) 1 USD - 20 MR Now I bought an item from locally but in USD at US 2000. they charge me 5% VAT when I enter this invoice in my books I would like to follow my exchange rate (Ofcource).But the Mauri Govt wants me to follow My supplier’s Exchange rate(1us-22MR) for tax account. how do I do this entry and update the VAT statement. My Purchase Invoice is like this USD Exch LCY Dr Purchase 2000 20 40,000 Dr VAT 100 22 2200 Cr Supplier 2100 20 42000 as in Prime Currency the entry is ok but not in LCY . Any idea how I can do this entry. I know I can do in two diff journal how about VAT statement. Rgds
The answer to that question is a bit long, so I suggest that you find your G/L Manual - which also can be found on your product CD. On Page 259 - 261 I think you will find the answer to your question 
Lars Strøm Valsted Head of Project and Analysis Columbus IT Partner A/S www.columbusitpartner.com