When foreign vouchers and invoices are paid or received and exchange rate differences cause a gain or a loss to occur, the gain or loss amount must be handled as a legitimate transaction. A valid invoice or voucher must be entered, then received or paid for with a resulting gain or loss. If taxes were involved in the original invoice or voucher, they must also be processed for the newly created invoice or voucher.
Exchange rate differences can occur in Russia for domestic transactions. Sales invoices that are sent by Accounts Receivable or invoices that are received from suppliers (into Accounts Payable) can have amounts in currency-equivalent units, but the payments are made in rubles. In Russia, exchange rate differences do not occur for transactions with foreign companies because those amounts are in hard currency.
This part provides overviews of exchange rate differences and discusses how to:
Set up exchange rate differences for Russia
Set up exchange rate differences user defined codes
Process exchange rate differences