Using Accounts Payable

Vouchers: Creating Vouchers for Specific CircumstancesCreating Vouchers in ForeignCurrenciesFor foreign vendors, the currency code is defaulted from the vendor record,but you have the option to change it by entering a Currency Code in theCurrency field on the Voucher Maintenance (VOUM) form. The currencycode you enter must be already set up for the vendor, or you will receive anerror message.When you enter a currency code, Colleague assumes all amounts you enterare in the foreign currency and treats them as such.Currency ConversionsIf you change the currency code to another currency code set up for thevendor, Colleague recalculates all items at the new exchange rate. Colleagueassumes that all amounts you previously entered were correct but the currencycode was incorrect. Colleague reconverts the general ledger amounts. In sodoing, Colleague reverses the original general ledger transactions and createsnew ones. You need to manually correct actual prices or trade discounts ifthere is an error.If the voucher did not come from a purchase order, Colleague uses theexchange rate associated with the currency code in the currency conversionfile to calculate local amounts for general ledger transactions. If the vouchercame from a purchase order, the exchange rate and the exchange rate date onthe purchase order are used.164 Using Accounts Payable, June 19, 2009© 2009 Datatel, Inc.