Overview
According to Art. 30 par. 1 of Accountancy Act, the components of assets and liabilities that are expressed in foreign currencies are priced for each balance day, and the average exchange rate valid for that day is set for a given currency by the Polish National Bank (Narodowy Bank Polski).
While revaluing Accounts Payable/Accounts Receivable open entries, the localised version of Infor LN considers the revaluation of unallocated and advance payments and receipts that is expressed in the foreign currencies.
To facilitate the exchange rate difference calculation for advances and unallocated
payments/receipts by the end user, these functionalities are enabled:
- Selecting document types as a basis for currency difference calculation (only invoices, unallocated/advance payments, all)
- Selecting a specified exchange rate type used to calculate currency differences
- Manually selecting the exchange rate used to calculate currency differences