Forum Discussion

Thirsty's avatar
Thirsty
User
3 years ago
Solved

Inventory value for orders that have had a deposit and final payment with different exchange rates

Hi Lets say we order 100 units USD1 each. A 50% prepayment is made when the exchange rate is 75c - AUD66.66 The final payment is made and the exchange rate is 70c - AUD71.43 Total cost AUD138   ...
  • Mike_James's avatar
    Mike_James
    3 years ago

    Hi Thirsty , welcome to the forum.  

     

    The value of the entry to inventory will be the order(/bill) value converted at the exchange rate assigned to that transaction. 

     

    Any difference in the rates used on the deposit or final payment will be accounted for as realised currency variances

Mike_James's avatar
Mike_James
Ultimate Partner

Hi Thirsty , welcome to the forum.  

 

The value of the entry to inventory will be the order(/bill) value converted at the exchange rate assigned to that transaction. 

 

Any difference in the rates used on the deposit or final payment will be accounted for as realised currency variances

Thirsty's avatar
Thirsty
User
3 years ago

Hi Mike

 

Thanks for your reply.

 

Thirsty