Creating documents in a foreign currency

Creating Documents in a Foreign Currency

When you need to record a sale, purchase, or order with a customer or vendor abroad (or pay/receive a foreign currency), you can create the document in that currency directly. Usystems will automatically apply today's exchange rate and track both the original foreign amount and the local-currency equivalent for your accounting.

Before you start

• You must have at least one foreign currency set up in your system. Ask your admin to add the currency in Settings → Currencies if it is not already available.
• If a contact (customer or vendor) has a default currency set, documents created for that contact will inherit that currency; you can override it when creating the document.
• Know the foreign currency code (e.g., USD, EUR, PKR) and have today's or the transaction date's exchange rate ready if you want to verify it.

Steps

1. Open the document creation form for the type you need:

   • Invoices → New Invoice Open in Usystems
   • Bills → New Bill Open in Usystems
   • Purchase Orders → New Purchase Order Open in Usystems
   • Sales Orders → New Sales Order Open in Usystems

2. Fill in the basic details: contact, items, quantities, and prices as usual.

3. Look for the Currency field near the top of the form (or in the summary section). Click or tap it.

4. Select the foreign currency (e.g., USD, EUR) from the dropdown.

5. Confirm that the Exchange Rate field shows today's rate. If the rate is wrong or you need to use a historical rate, edit it before you save.

6. Enter all amounts (prices, discounts, taxes) in the selected foreign currency. Usystems will calculate the local-currency totals automatically.

7. Complete any other required fields (account, payment terms, etc.) and save.

Accounting impact

When you save a foreign-currency document:

• The document displays both the foreign-currency total and the local-currency equivalent (calculated using the exchange rate you entered or selected).
• At payment or posting time, exchange-rate gains or losses may arise if the actual payment rate differs from the document rate. These are tracked in a dedicated currency-exchange-gain/loss account.

Tips & common mistakes

• Check the exchange rate before saving. If you notice it is wrong after creating the document, you may need to edit the document or create a correcting adjustment depending on whether it has been paid or posted.
• The currency of a document is independent of the payment currency. You can create a USD invoice but receive the payment in AFN using a different rate; the system will record the difference.
• Use the contact's default currency when possible. It keeps your records consistent if you work with that vendor or customer frequently.
• Always confirm quantities and unit prices in the correct currency. A typo in a foreign-currency document can make a big difference.

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