Understanding Foreign and Alternate Receipts Entry

You can process receipts in a domestic, foreign, or alternate currency. Specifically, you can process a receipt in any currency and apply it to invoices in any currency if the company base currency on the receipt is the same as the domestic currency of the invoices.

For example, assume the company base currency is Canadian dollars (CAD) and you want to apply a receipt in CAD. The domestic currency of the invoices to which you want to apply the receipt is U.S. dollars (USD). The company base currency of the receipt (CAD) is different from the domestic currency of the invoices (USD); therefore the system does not accept the receipt entry.

The currencies for the invoices are:

• Invoice Number: 221

  Domestic currency of invoice: USD

  Foreign currency of invoice: None

• Invoice Number: 223

  Domestic currency of invoice: USD

  Foreign currency of invoice: CAD

In this example:

• You cannot apply a USD receipt to the domestic amount of invoice 221 (USD).

• You cannot apply a CAD receipt in CAD to pay the foreign amount of invoice 223 (CAD).

  In both cases, the company base currency on the receipt (CAD) is different from the domestic currency of the invoices.

To complete the receipt entry, you must change the company number on the receipt to a company with a base currency of USD.