Many organizations wish to capture expenses location wise, department wise, or in a combination of fields. One of the best way is to incorporate these parameter in general Ledger charts of accounts by creating them as a segment in General Ledger. But, this will increase the size of charts of accounts.
If organization does not wish to increase the charts of accounts then another way is to create an optional field and capture the expenses at the time of expenses booking. Also link the optional field in all the COA in Trans. Optional fields tab for which you wish to capture the expenses as shown in the below screen shot.
New Stuff: Project Status in Sage 300 ERP
But it has been observed that when we apply an invoice to a particular credit note via AP Invoice credit note screen and if there is a difference in the exchange rate then as per accounting functionality the difference amount is debited to exchange loss account or credited to exchange gain account depending upon the exchange rate fluctuation.
Let us understand the scenario with an example:
Let us suppose a company needs to capture the expenses department wise so at the time of entering the AP invoice entry we will select the department at detail line level as shown in the below screen shot
Invoice is worth 1000 JPN and exchange rate is 60 JPN = 60,000 CAD.
Below is GL entry which is created on posting the above invoice entry which shows our expense is booked for the particular department.
Now, we have to raise a credit note against invoice but with a change in the exchange rate.
Let see the GL effect of the above entry
In above mentioned General Ledger entry optional field value flow from AP to GL entry, But the due change in exchange rate exchange account is also debited which is also an expense for us but the optional field is not flown to this account.
To make optional field flow to exchange loss account also, all we have to do the Apply document entry from AP payment option and then apply the particular invoice to a credit note selecting the respective optional field as shown in the below screen shot.
Now let us check whether the optional field has flown to GL too.
Yes, it has and our purchase is solved. In this way we can capture expense revenue etc. by creating them as optional field.
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