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Hi all,

I set a supplier in US dollar
and my local currency is Indonesian Rupiah

When I do GL-> Profit & Loss Statement,

the purchase is in USD and sales is in Rupiah

is there anyway I can set so the P&L or Balance Sheet is in the same currency, say Rupiah?

thanks,
Thomas
The profit and loss and balance sheet will only show in the currency you set as the company default currency.

Main Menu -> Setup -> Company Preferences -> Home Currency

If Indonesia Rupiah is not there then you must set up the currency first

Main Menu -> Setup -> Currency Maintenance
Hi Phil,

yes, the currency Indonesian Rupiah & USD are already setup correctly in Currency Maintenance

but the company nature is an importer, so I simulate buying from the supplier in USD (Purchase Order menu)
and when we sell it we do the Sales Order in home currency in Rupiah

I thought when we do P&L statement, the purchase is automatically converted according to exchange rate...

or maybe the program doesn't support it? I have to make the Purchase entry manually converted in Rupiah maybe?
You then set the company home currency in

Main Menu -> Company Preferences to INR

Yes of course you can purchase in any currency - the rates need to be set up in Main Menu -> Setup ->Currencies and these purchases are converted to the local currency for the purposes of the accounting
the entries when you purchase stock and receive the stock is

DR - stock - we have goods on hand
CR - goods received suspense - we owe a supplier

note nothing is posted to the profit and loss account
where can I check that the PO gets converted in the software or maybe database?

because in the P&L and balance sheet I can see the PO is specified in USD
whereas the sales is in Rupiah


(02-09-2012 07:13 PM)phil Wrote: [ -> ]You then set the company home currency in

Main Menu -> Company Preferences to INR

Yes of course you can purchase in any currency - the rates need to be set up in Main Menu -> Setup ->Currencies and these purchases are converted to the local currency for the purposes of the accounting
the entries when you purchase stock and receive the stock is

DR - stock - we have goods on hand
CR - goods received suspense - we owe a supplier

note nothing is posted to the profit and loss account
(02-09-2012 07:50 PM)thomas_lie Wrote: [ -> ]where can I check that the PO gets converted in the software or maybe database?

When you create a PO it always stays in the currency you created. It will never appear in the Balance Sheet.

Only when you receive some stock will the balance sheet be affected - by the number of items received multiplied by the standard cost (or WAC).
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