AR Foreign Currency Processing Overview

This section describes how Foreign Currency Sales Orders and Accounts Receivable Invoices are processed in StreamV

Customer Setup

As each customer record is created, a default currency can be defined for the customer.  The currency in the customer record is a default, and it can be changed on a order by order, or invoice by invoice basis as required (a single customer is not restricted to a single currency).  Security settings can be used to restrict or allow access to the currency field in the Order Emtry program and in programs that allow you to directly create invoices.

Order Entry

As each Quote, Sales Order and Loaner order is entered into the system, the default currency for the customer is loaded into the new order.  This default currency can be accepted or changed on an order by order basis (again based on system security settings – which can vary by operator).  The currency code that is used for each order is stored in the order, and it cannot be changed once order lines have been created or after the sales order has been saved.

If the order being processed is not in your house currency, the system uses the current exchange rate for the order currency during the order entry target price calculation process.

As each item is selected, and the quantity for the item is entered, the system checks for foreign currency pricing for the currency, customer, and item being processed.  The pricing options for foreign currency orders include

Special Price Records

Special Pricing records can be created for the foreign currency, item and customer combination being processed.  This allows a specific FC price (like 100 CAD ) and FC Commision Cost (like 80 CAD)  to be specified for the item.

Prices Records

The Prices file allows you to create and store Foreign Currency Price Levels for each of the Catlog items in your system.   If a Prices record is present for the item price level and currency being used for the order, it is used in place of the house currency price levels that are stored in the item.

 The Prices records allow you specify the exact amt to be charged for each currency you sell in and

Price based on House Currency Price Level and Current Exchange Rate

If the system does not find a special price or prices record for the customer, item and currency being processed, the system will use the Inventory Price Levels specified in the Catalog record for the item, and the current exchange rate for the order currency to calculate the correct price to be charged to the customer.

The system then determines the target or suggested price for the order line based on all of the pricing information that is present in the system.

Invoicing

Sales Posting

Payment Processing

Foreign Currency payments are applied

AR Adjustment Processing

Reporting

More:

Credit Requests