Forum Discussion

Crompton's avatar
Crompton
Experienced Cover User
6 months ago

how does AR premier handle multi currency invoices

I need to understand multi currency, Our unpaid stock invoices are  recording @ one Euro rate from the inventory account when the stock in being sold from inventory at the value of the invoice in the...
Mike_James's avatar
Mike_James
Ultimate Cover User
6 months ago

Hi Crompton , all inventory transactions are in your local currency.  Stock purchased from overseas  is added to stock in AUD at the rate on the bill. 

 

When stock is sold,  a cost of sale is calculated using the inventory value in AUD at that moment. The exchange rate on the invoice does not affect this.

 

I hope this is helpful.

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