Payables

[segu_tulasi55]

Functional currency is INR
BANK- USD
Invoice & Payment #8211; UK
How can u make payments what r the a/cing entries for it?

[byswamy]

Invoice(USD)

first scenario; PO-inv(same exchange rate)
AP Accrual A/c 1000
laibility A/C 1000

second senaria: different exchange rate

PO rate variance defaults from financial option

AP Accrual A/C 1000
PO Rate variance A/C gain 10
Liability A/C 1100,

Loss
AP Accrual A?C 1000
PO rate variance loss 10
Liability A/C 9990

If the excahnge rate is different b/w the invoice and payment

This account default from bank

take same senario for payments also


Thanks
Swamy