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SAP Business One Exercises On Currencies

This document provides exercises to practice working with currencies in accounting documents for both foreign and local business partners. It includes instructions on how to set up a foreign currency vendor, issue invoices to foreign and local vendors in different currencies, and post an exchange rate difference transaction. The goal is to gain experience working with currencies, updating exchange rates, and reviewing currency calculations in invoices and journal entries.

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Alou Cortez
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39 views

SAP Business One Exercises On Currencies

This document provides exercises to practice working with currencies in accounting documents for both foreign and local business partners. It includes instructions on how to set up a foreign currency vendor, issue invoices to foreign and local vendors in different currencies, and post an exchange rate difference transaction. The goal is to gain experience working with currencies, updating exchange rates, and reviewing currency calculations in invoices and journal entries.

Uploaded by

Alou Cortez
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Exercises

Unit: Additional Financial Topics


Topic: Currencies

At the conclusion of this exercise, you will be able to:


 Work with currencies in documents for foreign and local
business partners.
 Post an exchange rate difference transaction.
Most of OEC Computers’ vendors are local. They also work with
few foreign vendors.

1-1 Work with currencies in an A/P Invoice for a foreign business partner.
1-1-1 Review and update the setup.
Review the Currencies - Setup window.
Then review the Exchange Rates and Indexes window.
Enter exchange rate values in all existing currencies for today’s date.
1-1-2 Create a foreign currency vendor and update the price list.
Create a foreign currency vendor. Ensure that you define an account
currency that is different than the local currency. Write down the account
currency_________.
Ensure that you attach a Cash Basic payment terms to the vendor record.
Check the pricelist defined for him in the payment terms__________.
For one of the items in this price list, in the Additional Currency 1 Unit
Price column, define a price in the same foreign currency.
1-1-3 Issue an A/P invoice for the foreign currency vendor.
Issue an A/P invoice for the foreign currency vendor you have just
defined. In the A/P invoice, choose the same item.
If the Exchange Rate and Indexes window appears, enter a valid currency
rate and update the window.
1-1-4 Review the currency data in the document.
Review the document currency.
Review the currency data in the Unit Price field, total row amount, and the
total document amount
1-1-5 Add the A/P invoice.
Add the A/P invoice. Review the calculation in the automatic journal
entry, and then review the vendor’s account balance in local currency,
system currency, and the specified foreign currency

1-2 Work with currencies in an A/P Invoice for a local business partner.
1-2-1 Issue an A/P invoice for a local vendor.
For the item/s in the invoice, enter the unit price in foreign currency.
Review the currency calculation in the Unit Price field, the total row
amount, and the total document amount.

1-2-2 Add the A/P invoice.


Review the calculation in the automatic journal entry.

1-3 Post an Exchange Rate Difference transaction.


1-3-1 Issue an A/P invoice for a foreign currency vendor.
Issue an A/P invoice for the foreign currency vendor you have used before
with a past posting date.
Choose the item to which you entered a price in the foreign currency.
If the Exchange Rate and Indexes window appears enter a valid currency
rate that is different from the exchange rate you have entered for today
and update the window.

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