Forum - credit notes with correct currency rate

credit notes with correct currency rate

Aldevinas Katkus

11-18-20

Operating system: macOS

Our client has just asked about it:
According to the recommendations of tax authorities, foreign currency credit invoices should be entered into the system with the currency rate of the invoice date.
If we make a credit note via operations menu, then the currency exchange rate of the original invoice is copied into the credit invoice.
If I change the rate to the correct one in the credit invoice, then we get an error "Record cannot be saved. Received amount 119,60 is greater than invoice open amount 113,74".
I guess workaround is to enter a credit note without specifying a credited invoice.
Just curious: are accounting rules in other countries different than ours?

11-20-20

Hello.
Rules differ per country.
As example in Poland credit note has exactly same exchange rate as original invoice, so no exchange rate difference due to credit note.

Check if what customer say is really legally correct
Check if you have correct VAT law in Company info setting, so you do not test base on other country logic.
If legally required and does not work as should be write a wish and specify how system should calculate values in BC1 as in above case there is additional exchange rate difference involved.
Way round is to create CN not connected to original invoice, yes. But if any ex. rate differences should be calculated, this is extra manual.

Aldevinas Katkus

11-25-20

Created by16:12 20 Nov 2020

I have checked and the customer is right. There is a tax authorities comment note on VAT law and there is an example of credit note.

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