Frequently Asked Questions

There is an asset that has depreciation rates without the Processed checkbox. How can I erase them?

A: Running the Create depr. Rates process will verify all the unprocessed rates and remedy (erase and redo) the situation if necessary. We recommend you use this process on a monthly basis. This way you will avoid having unposted documents due to the currency rate and you will have a better control over the monthly generated rates. This way, the situations of unprocessed rates should also disappear.

What do I need to do to decrease the value of a fixed asset?

A: Raising and decreasing the value of a fixed asset is done by adding a new line in Cost Details with a positive or negative value, respectively. The calculation of the depreciation rates will be influenced by this starting with the account date of this addition to the Cost Details. If there are any depreciation rates dated after this addition, then you need to regenerate the all the depreciation rates.

Are the currency exchange differences (when you purchase the currency at the negotiated rate and pay the RON invoices in said currency) automatically calculated by the system, or these need to be manually entered with a GL Journal?

A: The currency exchange differences are automatically calculated by the system. These are calculated as the difference between the invoice and payment/receipt dates.

In the case of currency exchange, there are no differences, since, on the bank statement line in said currency, you enter an amount on the 581- Currency Exchange charge and select the negotiated currency type, while on the RON bank statement you enter a negative sum (foreign currency amount * negotiated exchange rate) on the 581- Currency Exchange charge.

Example: Vendor Invoice - 120 Eur/ date 12.05.2011- exchange rate 1Eur=4.0842=> 490.10 lei

Payment- 120 Eur/ date 19.05.2011- exchange rate 1 Eur=4.1184=> 494.20

Resulting Allocation (Payment - Invoice Allocation => View Allocations)

120*4.0842= 490.10

120* (4.0842- 4.1184)= -4.10 (665- exchange rate differences expense)- *Automatically calculated exchange rate differences