is the supplier's currency CAD or USD ? meaning that an Accounts payable USD account is setup ?

is the invoice in CAD or USD$ ?

after you get the error, if you type ctrl-J, is the transaction balanced ? if not, what's missing

Hello Roger,

Thanks for the reply

Yes foreign currencies are set up in Sage 50.  Just have $CAD (Home currency) and $USD though.

Supplier currency is setup a USD and their invoices to me are in USD.

When I hit Ctrl-J, the transaction is balance yes. I just won't record/process the transaction.

Not sure if this makes any difference but, this transaction was initially entered at the beginning of September.

Marc

under setup, company, currency - do you have an account to track exchange and rounding differences assigned

because if your invoice exchange is different then the payment exchange rate - the difference goes to this account

an 1000usd invoice at 1.10 will

 db 1100 expense

 cr 1100 ap

paying that invoice at 1.11 will

  db 1100 ap

  db  10    currency rounding

  cr   1110 bank

Yes the exchange and rounding differences account is set up and everything.

If it helps point things out, regardless of the fact that SAGE reports in the home currency ($CAD) the reason I need to do the adjustments is because when I run the balance sheet report, because I entered payments in USD to US suppliers using a 1 to 1 exchange rate, the balance in my USD account is WAY off (i.e.: MUCH higher than what's actually in the account).

Again, this not recording/processing of the adjustments only seems to apply to payments where I pay multiple invoices at once. When doing an adjustment of a payment where I pay a single invoice, everything works just fine.

Here's are screen captures of an adjustment that SAGE will not process

1. Initial entry

2. Adjustment attempt

3. Adjustment attempt after confirming it's OK to proceed

4. Final screen after I hit OK. As you can see the process button and the whole window are still active. Nothing other than the exchange rate on the invoices has been processed

And this one is of a adjustment I just  did that worked just fine

Lets try this again. Hopefully the screen captures will show this time

Yes the exchange and rounding differences account is set up and everything.

If it helps point things out, regardless of the fact that SAGE reports in the home currency ($CAD) the reason I need to do the adjustments is because when I run the balance sheet report, because I entered payments in USD to US suppliers using a 1 to 1 exchange rate, the balance in my USD account is WAY off (i.e.: MUCH higher than what's actually in the account).

Again, this not recording/processing of the adjustments only seems to apply to payments where I pay multiple invoices at once. When doing an adjustment of a payment where I pay a single invoice, everything works just fine.

Here's are screen captures of an adjustment that SAGE will not process

1. Initial entry

2. Adjustment attempt

3. Adjustment attempt after confirming it's OK to proceed

4. Final screen after I hit OK. As you can see the process button and the whole window are still active. Nothing other than the exchange rate on the invoices has been processed

And this one is of a adjustment I just  did that worked just fine

I can duplicate the problem with a usd vendor and a usd bank
create a invoice for the usd vendor with 1.00 exchange - j311
pay the invoice from the usd bank with 1.00 exchange - j312
change the invoice exchange to 1.10 - j313 - j315
try to change the payment exchange to 1.10 - I get your error

the net transaction appears correct

I'm not sure why your USD balance on the BS appears high, it should be reporting US$, and as you can see with the JEs, exchange rate doesn't affect the bank balance

I must have made another error some wherethen because, even when accounting for the fact that Sage reports in t home currency, the USD balance showing on the BS report is off by over $1K.

Guess I'll have to apply the solution I found on

support.na.sage.com/.../viewdocument.do

I worked with Sage support, they had reports of this problem
but could not replicate, so they connected to my system

if you 'pay purchase invoices', 'include fully paid invoices'
reverse the payment
   correct bank / date
   cheque  cheque # REV
   payment (-) amount
and post, j316



reapply the payment, you see that the payment exchange rate match the invoice's
   correct bank / date
   cheque  cheque # CORR
   payment amount
and post, j317

I guess the manual entry would be to db 100$ currency rounding and cr 100$ bank

they will create a KB article, and a next-level analyst reviewed the process, and support hopes that a permanent solution will be in the next release

WOW!! That's what I call going above and beyond!

Thanks very much,

Marc

Has been a long running issue with Sage for years. Basically the program is protecting the bank transactions. Logic is if a transaction has already been processed through the bank and NOW your going back and changing the exchange rate ONLY then will protect the check amount but still post the exchange rate. The consequence is exchange inconsistincies. Its up to the user to actually reverse the check THEN post the different exchange rate. There is already a KB and Sage will not fix.

Great.... There is such a thing a human error and not having read the F..... manual.

If they don't plan on fixing it and one isn't aware of the KB, one ends up with inaccurate  data

if you're using foreign currency, you need to track daily fluctuations (there are web sites)

under setup, settings, company, currency there is an 'exchange rate' button

which allows you to record the exchange rate on any given date,

Sage uses this when you create / pay invoices, so you don't have to remember

Unfortunately Roger, none of those sites account for the percentage/fee the banks charge for handling foreign currencies. Not that I noticed anyway

I'm not referring to bank charges

I'm referring to setting today's exchange rate to USD to 1.1182, so when you create an USD invoice, this rate is automatically used - so you don't type in 1.0000 causing the original issue that you needed to fix

the rate will be used moving forward until updated

How to manually reverse a payment? This KB article is found on

support.na.sage.com/.../viewdocument.do

In the resolution section, point 6 mentions the following:

- Add info to the receipt number (i.e. NSF, stale-dated, reversed, void,...).

How exactly is this done? By double clicking the entry and bringing up the actual paid invoice?

I ask this because when I bring up the all the invoices and do the previously mentioned steps, I'm unable to edit any of the information in any of the columns displayed (Due, Date, Invoice or Prepayment, Original amount, etc...)

Sorry if this sounds like like a newbie question. It's because it is. Still learning my way around SAGE 50.

Thanks in advance to all who reply.

Marc

RE: above post, I'm talking about reversing a payment to a vendor (i.e.: Method I)

Never mind the above BUT can someone explain why this error is occurring when the negative amount I entered is the same as what was paid ?

Screen Shot of original transaction entered:

Error when attempting to reverse payment

Again, thanks in advance to all who reply.

Cheers,

Marc

have you reverse it already ? original amount is 360, so is the amount owing - indicating nothing is paid

or it was paid, and the payment reversed

so you can't reverse another 360 (per the -360 in the payment amount)

No reversal done Roger and as you can see from the following screen shots when I bring up those invoices, they show as having been paid

this paid invoice is 44561, which is the 2nd line on your first screen shot for 120$

I think the message is related to the first line, is invoice 44606 paid ?

Huh?!? OK you just lost me here. If you look at the print screens I included in my previous post, you'll see that both show as paid in SAGE 50

The system is calculating that you are trying to reverse more than the CAD$ values.  I've been down this rabbit hole before, only in a mixture of CAD, USD, and MXN.  

** Delete all the payments, then delete all the invoices, then enter it all correctly.  **

If you can't do that, because of negative inventory or some other reason, then enter all the purchase invoices correctly, and then manually enter each one in reverse, with the $1 exchange rate.   Then enter zero dollar cash payments to clear all the invoice credit notes against each other.

You will then have the correct value for all the inventory that you purchased, and accurate currency amounts.  To fix the bank information:

Period end manual currency value adjustments are always required (whether you use the perfectly correct noon rate every time, or not) due to fluctuations in the value of the foreign currency (USD) that you DIDN"T spend each day.   There's a tech doc...  

sagecity.na.sage.com/.../the-canadian-dollar-balance-for-my-foreign-currency-bank-account-is-incorrect.aspx

oops, I missed the 2nd image

just did a test, created 2 invoices, paid them on one payment CAD currency

went back to payment journal, included fully paid invoices

both appear, with amount owing = 0$

plugged the negative amounts in payment amount, set source to REV - post - no problem

*** I don't understand why your invoices are paid, yet the payment journal shows an amount owing ***

then I repeated the test with usd supplier/bank

in reversing, when I try to enter the 2nd negative payment amount, I get the message

  there is currently a foreign currency reversal entered

  do you want the clear the reversal and continue with your current entry

and you can't post if trying to reverse more than one invoice, so I had to repeat for

the second invoice - I'm guessing it's related to the exchange rate

both invoices are no longer marked as paid

Thanks Randy. Looks like this will be a bloody nightmare to be honest but hey, if that's the only way to do it, no choice I guess...