3.0 How to enter an AP invoice that utilizes currency.

AP Invoice Entry-

To begin, you should make sure that the currency exchange setup for Accounts Payable has been completed (See knowledge article).

To enter an invoice with currency, you will open AP invoice entry under the accounting tab and add a new journal.

If you have set up your vendors correctly, when you enter the vendor you will see that the payables account will automatically populate with the currency payables account and a conversion rate it automatically populated for you. You will enter the amount of the invoice in the foreign currency that is received from the vendor.  If you need to manually adjust the conversion rate used, you can do so in the conversion rate field.  If you would like to override the vendor’s currency settings and post the invoice without currency exchange, you can check the “override currency conversion” box. Once you have verified the amounts, add the invoice using the black plus icon.

Choose the invoice distribution account, and then add the invoice distribution after adding the invoice. When you add the distribution information, you should see a line post to the distribution account for the total amount of invoice with currency, and then a second line that will calculate just the currency exchange amount that will post to the exchange account that you set up previously.  See below:

Therefore, the journal when this invoice is posted will be as follows: