during currency conversion. This is the only document type that is used to adjust the domestic side of a monetary (currency-specific) account. Transaction number of the source transaction, such as INV00000001 for an Invoice. When you invoice a client, you don't know for certain that you are going to get paid. Values are: Blank: Include all suppliers regardless of the value in the Hold Payment Code field. What happened is you did 5,000 worth of work; you contracted and invoiced this in Martian Bars; and when you got paid you lucked-out and scored an extra 500 on the currency movement. This section provides an overview of the A/P Unrealized Gain/Loss Report and discusses how to:.3.1 Understanding the A/P Unrealized Gain/Loss Report. Last time we looked at our Galactic Tours transactions, we ended up with this pretty good summary of what had happened: Date Account (Category) Dr Cr Mar 1st Sales 5,000 Accounts Receivable 5,000 Mar 30th Bank (US Checking) 5,500 Accounts Receivable 5,000 Gain on Foreign. (Congratulations!) You agreed a fixed fee in Martian currency - The Martian. The system produces a report that displays: Base company currency and the transaction currency of each voucher.
Contra-ing invoices: Foreign currency invoices and credit notes can be contra-ed in the normal manner. These may not be precisely the amount you would get if you tried to exchange the money at the bank, but that really doesn't matter: the values are close enough, and they'll be different tomorrow! Accounts Receivable 5,000, wave records the value of the transaction in your base accounting currency: US! Discount amounts for the voucher. If the rate changes so that.00.55 Euros, my 1,000 Euro invoice is now only worth 1,818.18. You invoiced your client using Wave, which recorded the transaction in US Dollars like this: Date, account (Category dr, cr, mar 1st, sales 5,000. Source Transaction Type, transaction type of the source transaction. When you see Unrealized Gain on Foreign Exchange on your Income Statement, it is the unrealized gain Income Account. Fields in the Unrealized Gain/Loss Detail Report. This is pretty much how Accountants think about Foreign Exchange Gains (and losses) before you actually receive a payment. G/L Date (general ledger date) Specify the general ledger date to use for journal entries that the system creates. When a foreign currency invoice is paid, the accumulated unrealised Gain/Loss on the invoice brought about by movements in the exchange rate is transferred to a Realised Gain/Loss.
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