Hi
We have some foreign currency issues in cetec. We are operating in pakistan and here default currency is PKR. But we have some issues related to cost.
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We allocate our cost in internal and external invoices always in PKR and resale value of most customer is in foreign currency. At the time of quote if we don’t allocate resale value and proceed order with allocating cost in PKR then after the making of invoice when we edit the resale value in foreign currency then we don’t know how it also convert the cost into foreign currency as well and as a result the cost of sale highly overstated and finished goods inventory highly understated. kindly resolve this issue as early as possible. To observe this instance kindly see the invoice 1388.1.
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We also face foreign currency issue at the time of internal receiving of material at the name of internal vendor. We don’t know how at the time of receiving cetec pick foreign currency(GBP) rather than currency in PKR. Due to this when we pick quantity from bin for shipment also pick the same cost and cost of sales overstated.To observe this instance kindly see the receipt code 7877.
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To tackle foreign currency issue i studied the case of three internal receipts (receipt code 7877,10857 and 3565). Despite of the same process flow in all of the three receipts , the cost of two receipts in GBP currency (7877 & 10857) and one were in PKR (3565).
Kindly resolve this foreign currency issue related to cost so that our all internal receivings and external invoices cost should be in PKR. Because this foreign currency issue badly affects the reporting of financial statements. Kindly also inform us where we are lacking related to receiving and external invoice process.Thanks.