Currency Payments and Receipts

• Prepayments in currency: payment posting is usually made in DocFinance using the previous day's exchange rate (not yet available the exchange rate of the day) and a Transit Account as balancing account; Payment is then exported to BC. The day after the payment is posted, the user changes the posting exchange rate to DocFinance: a new first-note entry is transferred that closes the Transit Account using the ordinary bank account as balancing and adjusts the euro-value of the payment. The vendor invoice is then posted to BC and, by linking matches, the exchange difference is detected.
  

•  Advance receipts in foreign currency: same flow described in the previous step.

• Payments / Currency Receipts for invoices posted in BC: DocFinance exports to Business Central the lines related to the exchange rate difference detection and as the "Amount LCY" of the payment /receipt, it exports the same "Amount LCY" of the invoice to be closed; BC therefore does not detect foreign exchange gains/losses.

 

NB
If the lines for the detection of exchange rate differences are not exported directly to Euro (special flag in DocFinance "Accounts and Reasons" setup), you must fill in the fields Gain G/L Account No Loss G/L Account No in the DocFinance Setup: in this way the related movements will be imported into BC by taking the balancing account directly from the file.

 

 

Introduction

Base Setup

DocFinance Setup (DCF)

Import Batches (DCF)