When posting a landed cost invoice in a currency other than the PO currency, the system incorrectly offsets Landed cost Clearing using PO currency rather than local currency in the functional accounting schema (in my case currency THB).
Here are the steps I performed: 1.) Create a PO in a foreign currency, e.g. EUR 2.) Perform a landed cost estimate in the PO, which can only be done in EUR (the PO currency) as there seems to be no way to change the currency 3.) The actual landed cost invoices (freight, duty, import tax etc.) are entered in local currency (in my case that's currency THB). When examining the accounting entry, the system seems to mix up foreign currency (EUR) and functional currency (THB): Here are the value flows: Planned Landed Costs for Import Tax: EUR .35 Planned Landed Costs for Freight: EUR .50 Planned Landed Costs for Duty: EUR .50 = Planned Total Landed cost: EUR 1.35 Upon Material Receipt, the System correctly converts the Landed Cost Clearing to THB 67 (EUR 1.35 x exchange rate 50) in my functional accounting schema. When entering an actual landed cost invoice for Import tax THB 20,-- the system posts the following entry into my functional accounting schema (denominated in THB):
CR AP 20 (THB) -> CORRECT (that's the actual invoice amount for import tax) DR Landed Cost Clearing .35 (THB) -> WRONG as this appears to be the amount EUR!! DR Product Asset 19.65 (THB) -> WRONG as a result of DR .35 EUR in the line above
Dear team,
When posting a landed cost invoice in a currency other than the PO currency, the system incorrectly offsets Landed cost Clearing using PO currency rather than local currency in the functional accounting schema (in my case currency THB).
Here are the steps I performed:
1.) Create a PO in a foreign currency, e.g. EUR
2.) Perform a landed cost estimate in the PO, which can only be done in EUR (the PO currency) as there seems to be no way to change the currency
3.) The actual landed cost invoices (freight, duty, import tax etc.) are entered in local currency (in my case that's currency THB). When examining the accounting entry, the system seems to mix up foreign currency (EUR) and functional currency (THB):
Here are the value flows:
Planned Landed Costs for Import Tax: EUR .35
Planned Landed Costs for Freight: EUR .50
Planned Landed Costs for Duty: EUR .50
= Planned Total Landed cost: EUR 1.35
Upon Material Receipt, the System correctly converts the Landed Cost Clearing to THB 67 (EUR 1.35 x exchange rate 50) in my functional accounting schema.
When entering an actual landed cost invoice for Import tax THB 20,-- the system posts the following entry into my functional accounting schema (denominated in THB):
CR AP 20 (THB) -> CORRECT (that's the actual invoice amount for import tax)
DR Landed Cost Clearing .35 (THB) -> WRONG as this appears to be the amount EUR!!
DR Product Asset 19.65 (THB) -> WRONG as a result of DR .35 EUR in the line above
Please kindly look into this,
Michael