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US to CAD Exchange conversion issue - AP invoice

  • 1.  US to CAD Exchange conversion issue - AP invoice

    TOP CONTRIBUTOR
    Posted 15 days ago
    Hi there,

    We processed AP invoice based on exchange rate available at that time of processing so 10 * 1.29244 however when I am issuing AP cheque the exchange have changed to higher 10 * 1.31. Now when i am posting cheque batch my distribution dont match as i have a difference on variance. Can someone advise what can we do to feasible resolve this matter?

    Thanks!

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    Sunaina Sharma, Business Application Analyst(Admin)
    Oakville Enterprise Corporation
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  • 2.  RE: US to CAD Exchange conversion issue - AP invoice

    TOP CONTRIBUTOR
    Posted 15 days ago
    Hi Sunaina,

    Could you send a screenshot of what you were reviewing (i.e. the one showing the 'variance')?

    At any rate, guessing that you might be viewing the amount in functional currency - i.e. amount might be paid in full in terms of originating currency, but due to the difference in exchange rates, the functional amounts might not be the same... though, upon posting (guessing again that it's unposted) - the gain/loss account should kick in?


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    Ryan Galang
    BTP Technologies LLC
    CHANTILLY VA
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