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IC adjustments in source currency

IC adjustments in source currency

IC adjustments in source currency

We are currently using Sage 300 2014 version 62a and I was wondering if you can do an IC adjustment in a source currency? We currently use the PO module to do PO and receipts and they currently receive in a source currency EUR and the functional currency is in USD. So when they do an IC adjustment it will only do it in functional and not the transaction currency. Am I missing something? It seems you can have all IC reports in source and functional so I'm not sure why you can't do an adjustment in a source currency.
Can someone shed some light on this LOL?

RE: IC adjustments in source currency

All inventory transactions and values are in home/functional currency. There's no provisions for directly supporting multi-currency inventory valuations. You would have to track that yourself and create a custom report for that.

RE: IC adjustments in source currency

Thanks but I still don't understand why all other screens it allows source currency transactions except the IC adjustments. Our problem is they need there company to be USD functional but use IC in there local reporting currency. Do you see another work around or a third party software that will allow us to track IC in a different currency other then the functional?

RE: IC adjustments in source currency

Internal Usage doesn't either. It's probably due to how the multi-currency 'enabled' transactions are transactions that can have 'connections to the outside world'. Physical Inventory (which is a kind of adjustment), Adjustments and Internal Usage don't really have any potential connection to the outside world.

So you need to track inventory in USD but you need the value in the GL to be in functional currency?

What costing methodology are you using? Are you revaluing inventory periodically? What's the functional currency?

I suppose that you could have a parallel location and mirror movements in inventory. Doesn't sound pretty and you'd have to be solid with the account sets so that this location stays strictly as a sub-ledger. Maybe http://www.dingosoft.co/ledger-manager.html might help?

RE: IC adjustments in source currency

Inventory is tracked in functional currency only - that is GAAP, so blame the accountants.
Workaround: Excel ;)

Sage 300 Certified Consultant

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