System Currency for Control Acct not tally with System Currency Aging Report

[Former Member]

Dear Experts,

SAP B1 Version 8.82, PL09.

Company Setting: Local Currency = USD and System Currency = SGD

1) Create an A/P Invoice in USD

Exchange Rate = 0.809061

Local Currency = USD 27,420.00

System Currency = SGD 33,891.14

Please refer to AP Invoice Journal Entry.jpg file.

2) Create an Outgoing Payment in USD

Exchange Rate = 0.805153

Local Currency = USD 27,420.00

System Currency = SGD 34,055.64

Please refer to Outgoing Payment Journal Entry.jpg file

There is a different in System Currency (SGD 33,891.14 - SGD 34,055.64) = - SGD 164.50

With a lot of such transaction created in the system, the different amount becomes significant.

I am aware that in SAP B1 Version 9.0, there is a Conversion Exchange Gain/Loss setting in G/L Account Determination, therefore upgrade to 9.0 will be the solution. But before that, how can we correct the wrong data that currently 8.82 company database?

Please help.

Thanks.

Regards,

Lay Chin

[Former Member]

Hi Yang Lay Chin,

In earlier Version also SAP enables that functionality. If it is your Forex transaction or Multi currency Transaction You need to set Account into Exchange Rate Differences Gain, Exchange Rate Differences Loss field in GL Determination Screen.

However Difference amount would be Posted into that  Particular GL Account.  You can View that By using Ledger Details.

As Per financial Concepts we need to Post Provision Entry in Year End for Forex differences. It would by Posted into Purchase/Sales Diff Account.

Please go through the above Steps and  Worked Out the Same. Hope it helpful.

Regards,

Kalaiyarasan.V

[jitin_chawla]

Hi,

Check the option at the following path :

Financials Module > Conversion Difference.

This window posts a Journal Entry, so first test the same in the COPY of the database and confirm the results.

Kind regards,

Jitin

SAP Business One Forum Team

[kothandaraman_nagarajan]

Hi Yang Lay Chin,

In SAP 8.81 version also have exchange rate difference account under Setup-> Financial---> GL account determination--->Inventory tab.

Thanks & Regards,

Nagarajan