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Vendor statement in multi currency with payments on account
Can anyone help me? I need to be able to reconcile a vendor statement in local currency whereas all I can seem to get out of NS is base currency reports.
We purchase almost all of our inventory in Euro, but our base currency is GBP.
The issue is further complicated in that we have to make round sum advance payments on account to the vendors, therefore the balance on the account is a constant rolling balance which never clears to zero. We're dealing with these by entering dummy vendor credits in euro on the vendor account and posting to a suspense account in the balance sheet and then clearing the suspense account by writing a cheque.
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