Completing a Foreign Currency Sales Invoice

Once the overseas customer has been set up correctly (as detailed in the section within this chapter), to enter the Sales Invoice using a foreign currency, the procedure is as follows:

1. Select a customer, by either entering in the name, clicking on the ? button and selecting, or click on customer and use the [up/down arrow keys] to select.
2. Add [INS] to enter a new invoice.
3. Location. Ensure the location on the invoice header is correct, as that will be the default location that the stock is picked from.
4. Date. Will default to the current date. To change the day use the [up/down arrow keys]. To change the month, use the [up/down arrow keys + shift key].
5. Tax Invoice Number. This will be automatically allocated once the Sale Invoice is completed.
6. Check the settings in the reference table. They should automatically bring up the correct currency and tax conditions which have previously been set up in <CM>. REMEMBER to ensure that the correct currency is displayed in the reference table, as the invoice will be produced in that currency.
7. Enter the following details: (This example is for a stock invoice).
   • Type. Select 'Item' by clicking on the down arrow key and clicking to highlight.

     (The invoice can be formatted further by selecting the 'Comment' option on another line, and entering in any relevant headings).

   • Code. Select the stock item number or description. If unknown, locate by using the [up/down arrow keys + shift key] to select. Upone entering the product code, the sell price and stock on hand for the default location appears at the bottom left of the screen.
   • Deliver. This must be entered as the quantity delivered.
   • Invoice. This must be completed.
   • Price. Enter the foreign currency value.
   • Discount %. Enter if required.
8. Process [F9], selecting from the following options:
   • Process and complete immediately.The invoice will be confirmed and completed and cannot be edited. The automatic journal will be completed.

Debit Accounts Receivable (Debtors)

Credit GST

Credit Sales

Debit Closing Stock

Credit Stock on Hand

• Process but do not complete immediately. The invoice will be confirmed, and will be unable to be edited by the creation of another version of the transaction. No journals will be completed.
• Hold. The invoice will remain in a 'Planned' state and will be able to be edited.
• Delete

  (NB. The Sales Invoice may also be cancelled at any time before processing [F9], by clicking on the Withdraw [Esc] button).

  The invoice may be printed out before completing immediately, either to the screen or to a selected printer.

Once the Sales Invoice has been confirmed and completed, the figure which is automatically journalled to the Sales and Debtors account will be expressed in $NZ (converted as per the spot rate entered), yet the invoice to be sent to the client will be in the foreign currency value. An example of a completed sales invoice is shown below.

1. Check the settings in the reference table. They should automatically bring up the correct currency and tax conditions as you have previously set up in [CM]

2. Enter the Sales Invoice in the foreign currency value.

REMEMBER to ensure that the correct currency is displayed in the reference table, as the invoice will be produced in that currency.

Once the Sales Invoice has been confirmed and completed, the figure which is automatically journalled to your Sales and Debtors account will be expressed in $NZ (converted as per the spot rate entered), yet the invoice to be sent to your client will be in the foreign currency value. An example of a completed sales invoice is shown below.