In Soft4Factoring product setup select these values:
- Currency Code
- Currency Exchange Rate
If you don't see any value under Currency Code, click new:
Select the currency and fill in all the fiels:
- Code
- Description
- Rounding Tolerance (you can leave it as it is)
- Rounding Acc. - G/L account for rounding.
Example how it should look like
Also, you need to make sure that selected currency has exchange rate. You can check it in currencies page.
Fill in amounts
| Exchange Rate Amount | The exchange rate amount is the rate for the currency code selected on the line. Normally 1 or 100. This is foreign currency. |
| Relational Exch. Rate Amount | The relational exchange rate amount relates to the rate to use for the relational currency code. This is local currency. |
| Adjustment Exch. Rate Amount | The rate for the currency code selected on the line for the use of the Adjust Exchange Rates batch job. This is foreign currency. |
| Relational Adjmt Exch. Rate Amt | The rate for the currency code selected on the line for the use of the Adjust Exchange Rates batch job. This is local currency. |
Or you can enable Exchange Rate Service and get the amounts automatically here:
Also it's important to select Vendor Posting Group Rounding Account
When you create an agreement, you can see currency code here
It means that all the operations under this agreement will be performed with the SEK currency.
When you add new invoices, you can also add a currency field through personalize:
After adding invoice you can see that currency came from the agreement:
Remember all the fees are calculated also in selected currency, so adjust them accordingly.
When accepting this invoices we get a pop up.
Now we can go to advance disbursement.
We got the line with the currency value SEK
To be able to register debtor payment, we need to have a bank account on the Soft4Factoring system, which will work with SEK currency.
Select the currency and bank account posting group:
Now it's time to register debtor payment.
When registering Debtor payment, select corresponding bank account for the SEK currency:
Fill in these values and try to apply entries:
Apply and accept
Post the records
You can see that only fees and reserve release left.
Fees are created also in SEK currency
Fees are not deducted from reserve so will register Vendor payment for the fees.
Now only the reserve release left.
After posting reserve Factoring invoice is closed
