This article summarizes the steps you take to add invoices, credit notes, and debit notes in currencies other than the functional (home) currency.
If you use multicurrency accounting, you enter amounts in the A/R Invoice Entry screen in the customer's currency. When you specify a customer number, the customer's currency code is displayed on the Document tab.
You enter multicurrency transactions in the same way as functional-currency transactions. The only extra consideration arises if you need to change exchange rates or assign a different tax group to the transaction.
If the customer does not use the functional currency, the Rates tab becomes available on the A/R Invoice Entry screen, displaying the currency code, rate type, rate date, and current exchange rate for the document. When you enter a credit note or debit note for a specific invoice, the original exchange rate used for the invoice is displayed.
You use the Rates tab to change the rate type, rate date, and exchange rate for the document. You cannot change the currency. You enter all amounts in the customer's currency.
Note: You can change the tax group for a document only to another tax group that also uses the customer's currency.
You do not enter currency information with details. You enter all detail amounts in the customer's currency. Accounts Receivable calculates the functional-currency amount using exchange rates from theCurrency Rates screen in Currency.
You enter prepayments in the customer's currency.
After adding and saving invoice details, click the Prepay button to display the A/R Prepayments screen.
You can create a receipt batch, or you can add the prepayment to an existing receipt batch.
You enter the prepayment amount in the receipt currency. Accounts Receivable uses the information specified for the prepayment on the A/R Rate Override screen to convert the payment amount to the customer currency and/or the functional currency, if the bank currency or the customer currency are different from the functional currency. (To open the A/R Rate Override screen, you click the Rates button on the A/R Prepayment screen.)
When you post multicurrency transactions, Accounts Receivable converts the amounts to the functional currency, using the exchange rate information entered with the transaction.