Accounts Payable and Multiple Currencies
When you track multiple currencies in Deltek, certain considerations must be taken into account when you process accounts payable transactions.
Transaction Currency
As with other expense transactions, a voucher can use any transaction currency. However, unlike employee expense transactions, a voucher's line item amounts must all be in the same transaction currency.
The transaction currency of the voucher does not need to be the same as the currency of the vendor's invoice. However, to enter the correct voucher amounts in a currency different from those on the invoice, you must manually calculate the amounts, because Deltek does not translate them.
Payment Currency
When you create a voucher, you must specify a bank code. The bank code determines the currency in which the check or electronic funds payment is made to the vendor.
To translate the voucher's total amount (transaction currency) into the payment amount (payment currency), Deltek uses the voucher date as the exchange date for locating the most recent preceding date's exchange rate in the Daily Exchange Rates table.
You cannot modify the payment amount, but you can override it on the Currency Override dialog box.
Tax Currency
If tax auditing is enabled for the company, when you set up a tax in , you specify a currency for that tax. In most cases, the tax currency is the currency in which the tax is reported and paid to the taxing authority. Deltek stores tax amounts for transactions in the tax currency, as well as in the transaction currency and other relevant types of currency.
When you generate the Tax Analysis report to review purchases and sales, you can display tax-related amounts in the currency associated with each tax. This option lets you see all amounts for a given tax in the same currency, regardless of the transaction currencies involved. (You can also use transaction currencies or functional currencies for this report.)