Paying a Multicurrency Invoice This topic describes the steps to create and pay the first multicurrency accounts payable voucher in Costpoint. Related Topics:PMI Currencies for Accounts Payable Costpoint recognizes the following three currency types for recording accounts payable transactions: PMI Before You Start Before you start the payment procedure, determine the currency you will use to pay the invoice. For this example, we assume the following: PMI Step 1 Use the Manage Currencies screen to select the currencies that will be used in Costpoint. PMI Step 2 Use the Manage Currency Status screen to activate this currency. PMI Step 3 Use the Manage Exchange Rate Sources screen to specify sources for your exchange rates. PMI Step 4 On the Manage Exchange Rate Groups screen, create a rate group. PMI Step 5 If this is your first accounts payable transaction, review the settings in the Configure Multicurrency Settings screen. PMI Step 6 On the Manage Multicurrency Accounts screen. follow your company's procedures to assign the gain and loss accounts and organizations. PMI Step 7 Enter the exchange rates for the currencies of your accounts payable transaction. You can maintain currency on a regular schedule (possibly daily or weekly) or enter currency rates on an as-needed basis. PMI Step 8 Enter your voucher as usual in the Manage Accounts Payable Vouchers screen. PMI Step 9 Run the Update Open Accounts Payable Exchange Rates process. PMI Step 10 Pay your voucher as usual, printing the check against your yen bank account. Parent Topic: Related Topics for Manage Currencies HomeAccountingMulticurrencyCurrency ControlsManage CurrenciesRelated Topics Paying a Multicurrency Invoice
Paying a Multicurrency Invoice This topic describes the steps to create and pay the first multicurrency accounts payable voucher in Costpoint. Related Topics:PMI Currencies for Accounts Payable Costpoint recognizes the following three currency types for recording accounts payable transactions: PMI Before You Start Before you start the payment procedure, determine the currency you will use to pay the invoice. For this example, we assume the following: PMI Step 1 Use the Manage Currencies screen to select the currencies that will be used in Costpoint. PMI Step 2 Use the Manage Currency Status screen to activate this currency. PMI Step 3 Use the Manage Exchange Rate Sources screen to specify sources for your exchange rates. PMI Step 4 On the Manage Exchange Rate Groups screen, create a rate group. PMI Step 5 If this is your first accounts payable transaction, review the settings in the Configure Multicurrency Settings screen. PMI Step 6 On the Manage Multicurrency Accounts screen. follow your company's procedures to assign the gain and loss accounts and organizations. PMI Step 7 Enter the exchange rates for the currencies of your accounts payable transaction. You can maintain currency on a regular schedule (possibly daily or weekly) or enter currency rates on an as-needed basis. PMI Step 8 Enter your voucher as usual in the Manage Accounts Payable Vouchers screen. PMI Step 9 Run the Update Open Accounts Payable Exchange Rates process. PMI Step 10 Pay your voucher as usual, printing the check against your yen bank account. Parent Topic: Related Topics for Manage Currencies HomeAccountingMulticurrencyCurrency ControlsManage CurrenciesRelated Topics Paying a Multicurrency Invoice