Importing FX Pre and Post appointment Debtors (Pre version 5.4.42)

First setup accounts as per instructions in this article. Realising an Foreign Asset in Foreign Currency

 NB: As of Client Version 5.4.42 of the application you will have the ability to import Pre and Post Appointment FX Debtors.

Pre this version you will need to manually enter your Foreign Currency (FX) debtors.

Or if the debtors to be imported relate to a lot of new counterparties that need to be created in your database, one way to possibly speed things up a little is to import the debtors as Home Currency into a test job so that the Counterparty Records are created and then delete the imported debtors.   

Then when you get around to entering the Foreign Currency debtors, you will be able to look up the existing counterparty that was imported instead of having to manually enter a new counterparty.

Pre-Appointment Accounts Receivables

Set up a separate Accounts Receivable Account in AUD currency for Importing.

Import the FX (eg USD) debtors with their Foreign Currency values into that account.

Provide us with the AccountID for the account the debtors were imported into and the Account ID for the Assets - Debtors (Pre Appointment) account that has been setup in Foreign Currency, where these imports will be transferred to.  If you edit the account (right hand click, edit) the ID will show at the top of the Account setup as shown below.

Send support a similar screenshot of your account so that we can make sure it is set up properly for the update script to work.

Import Account

Transactions in import account will be transferred to the FX account via hotfix​

Support will then prepare a script to move the transactions from the import account to the FX Currency Account (eg USD). The script will need to update the entries with an Exchange rate.  Client to supply an exchanges rate to use to update the entries.

Post-Appointment Accounts Receivables

For FX Post appointment debtor invoices you will need to create another Post Appointment (Trading) debtor account to import to. The account should be setup similar to below with the Account Name -  Accounts Receivable (Post Appt) – IMPORTS ONLY USD or similar and the currency is to remain in AUD.

Import your FX debtors with their Foreign Currency values (eg USD) into this account. Then you will need to run a script to transfer the debtors from this account to the Post Appointment Trading Debtors account in USD and set the currency for the entries.

Support will need the account number for the Import account and also the number of the Accounts Receivable Post Appointment Trading USD account (the account that is in USD currency) as well as an exchange rate.

Example of the account number below

These accounts will be used for continuing Post Appointment Trading Debtor invoices that need to be imported.