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A/P Question

Last post 05-26-2008 9:37 AM by Kim. 1 replies.
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  • 05-12-2008 4:23 PM

    • Ken
    • Top 150 Contributor
    • Joined on 11-18-2007
    • Posts 14

    A/P Question

     I have a question about A/P.

    I posted a supplier's invoice of inventory in Cdn funds.

    But paid in USD from my US acct.

    How do I post this in Simply 2007? 

  • 05-26-2008 9:37 AM In reply to

    • Kim
    • Top 10 Contributor
    • Joined on 06-22-2007
    • Posts 454

    Re: A/P Question

    Hello Ken,

    I would recommend you reverse the supplier's invoice that you posted.  Create the Vendor record as a USD vendor (in the currency field, under the options tab.)  Then record the payment of the invoice which will pay out of your US bank account.

    Keep in mind that even though the invoice is recording in USD, from an accounting perspective as far as your inventory is concerned, the values are recorded in your home currency so there will not be a problem there.

    Kim
    Customer Support Analyst
    Simply Accounting by Sage
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