In the J-Guar application, debt closing transactions can be performed with various currency types. Exchange rate differences are calculated by processing the Date of Transaction or Payment Date.
Exchange rate difference calculation and payment tracking methods are specified on the Exch. Rate Difference field located on the Business Info tab of the AR/AP. Exchange rate difference is calculated using 2 methods:
- OnTransactions
- On Payments
1. Exchange Rate Difference Calculation Over Payment/Collection Transactions
When exchange rate difference for the AR/AP is calculated over payment/collection transactions, only the Closed Transactions are processed, and outstanding transactions do not affect exchange rate difference calculations.
Exchange rate difference is calculated by processing the exchange rate of the closing transaction on the due date, rather than the transaction date. The Due Date is also processed for check and P. Note transactions.) Therefore, the exchange rate value at the due date of the closed transaction is displayed as default during closing transactions. Exchange rates and amounts to be closed can be changed by the user while closing the transactions.
Transactions for which the exchange rate difference is already calculated are not included in exchange rate difference calculations.
The General VAT Rate is used in the Exch. Rate Diff. Slip. Slip amounts are calculated as VAT included, and displayed on VAT reports. The G/L codes window of the slip displays the rates defined with the Purchase VAT or Sales VAT G/L codes as default.
2. Exchange Rate Difference Calculation Over AR/AP Transactions
When exchange rate difference is calculated through AR/AP transactions, the difference between the day of calculation and the exchange rate of the transaction is processed for exchange rate difference calculations. The exchange rate difference results in debit or credit depending on the decrease or increase in the exchange rate.