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Currency Info
The fields under this title are used to record AR/AP transaction currency and exchange rate difference calculation default.
Currency: The currency type applied to AR/AP transactions. The currency type selected here is transferred into AR/AP transactions as default.
Exchange Rate Difference: The exchange rate difference calculation default for in the AR/AP transactions. Indicates It specifies how the exchange rate difference calculation methodis calculated. The exchange rate difference field lists the following consists of three options:
- Over On Transactions
- Over On Payments
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- On Transactions and Payments
When the "On Transactions" option is selected, the exchange rate difference is calculated based on by the slip and invoice date of the and the slip date. All open and closed transactions are included in the transaction.
When Over the "On Payments" option is selected, the exchange rate difference is calculated based on by the payment date. Only closed transactions are included in the transaction.
When the "On Transactions and Payments" option is selected, both the open (Unpaid, Waiting, G/L Approved) and closed (Paid) transactions are included in the transaction. The exchange rate difference of the open transactions is calculated by "Exchange Rate on Calculation Date"; the exchange rate difference of the closed transactions is calculated by "Exchange Rate on Payment Date".
Payment Info
The fields on this section are used to record AR/AP payment information.
Payment Plan: The payment plan default used in AR/AP transactions. The payment / collection plans are listed, and the appropriate plan is selected. The Payment Plan Code specified here is transferred as default into AR/AP slips and invoices. If the related transaction will be closed according to a different payment plan, the Payment Plan Code can be changed on the slip.
Discount Rate: The discount rate to be applied to AR/AP transactions. The rate specified here is transferred as default into AR/AP slips and invoices. If a different discount will be applied for the transaction or if no discount will be applied, the selection is made on the related slip.
Payment Type: Indicates the payment method for AR/AP purchase and sales transactions. The selection made here is transferred as default into the slips and invoices. The payment transaction is recorded accordingly when the sales, purchase and return invoices are recorded. The Payment Type field lists the following options:
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