Foreign currency translation in receivables and payales reports

Expertise Accounting
1

I want to know whenever I extract aging reports from cetec of receivables and payables (which includes foreign currency) these reports were translated at conversion rate. Due to this ledger amount and aging report does not matched. I just want that reports should separately mentioned the translated gain or loss on foreign currency on the extracted date for the better understanding and to reconcile the receivables and payables with the ledger amount or suggest an alternative way.

2

waiting for response.

3

Hi Cetec,

Please let us know when we can have update on the above issue.

Best Regards,
Asad

4

@AliNaqvi @asad

Just an update, we are actively investigating this for you guys. We’ll be providing an update ASAP, appreciate your patience.

Thanks

5

@AliNaqvi @asad

Reading and re-reading your comment above, you’re asking an interesting question.

What if… on the aging reports, what if we added a column for what the exchange rate between two currencies was at the time of the AR or AP transaction, what the exchange rate is now (today), and the delta between those two values. Would that be sufficient as a solution for your issue here?

And, if so, which reports exactly would you want to see that information on?

Thank you very much.

6

yes, in addition to three above mentioned columns please add one more column of value as per ledger or value as per transaction date (translated value at the rate on transaction date) along with the already included column of closing translated column (translated value at the rate on specific date at which report is extracted).

In addition to AR and AP aging reports we also face the same issue in non-vouchered open receipts list report (accrued ledger entries report). please update this report also accordingly.

Please also mention the time in which these changes were made in the reports.

Thanks for positive response.

7

any update???