Howard Blitstein
Forum Replies Created
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Sorry, sorry, sorry this is getting long and convoluted. And I am not an accountant so if none of this makes sense, my apologies. We are working through getting the batches posted. But that leaves us with another issue regarding applying payment to these invoices. All our MXP invoices are paid outside of GP, so Accounting does Manual Payments, but they want to do this with US dollars which GP doesn’t like. But they come back to me saying they need this and this is the reason…”Our bank account is all US cash so the GL account is listed in USD. Our concern is if we apply payment in MXP, GP will convert MXP to USD using a different exchange rate than our bank. This will cause discrepancies with what our bank statement shows was paid in USD and what GP shows. Therefore, we will not be able to reconcile the US bank.”
I did mention a recommendation by Richard Wheeler saying…” You will need a checkbook in the vendor’s currency and need to pay them using this same checkbook. You can, however, point the checkbook back to the same cash account as your regular checking account, keeping all the transactions automatically in one GL for reconciliation.”
But….Accounting came back with this…<b style=”background-color: var(–bb-content-background-color); font-family: inherit; color: var(–bb-body-text-color);”>AP uploads invoice in MXP, but GP posts the USD equivalent based on GPās exchange rate table.
Invoice 14,213.48 MXP
GP Equivalent 824.38 USD
Treasury pays invoice based on MXP, but the USD equivalent based on banks rate actually comes out of the bank.
Payment 14,213.48 MXP
Bank Equivalent 820.67 USD
We need GP to be able to post $820.67 USD to the cash GL account, GP should not post $824.38 USD to cash GL account.
<ul type=”disc”>
- If 824.38 needs to be posted to clear the invoiceās
USD equivalent amount then 820.67 still needs to go to GL cash account and
3.71 to the currency exchange loss/(gain) GL account. - If 824.38 needs to be posted to clear the invoiceās
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As I mentioned, updating the MC00100 expiration dates did allow batches to post without error…but some batches are not posting completely. There are a few batches where 1 or 2 transactions did not post, and digging in, the transactions are not posting because there is not an exchange rate entered for their document dates. So if I am understanding things, if frequency in the exchange table is set to Daily, and for whatever reason a day is missed AND a transaction is entered with that date, it won’t post? I was thinking with it set to Daily and rate default Previous Date, if a exchange rate was missing it would look to the previous date and use it’s rate. Should we be using Miscellaneous instead of Daily?
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To get past the posting errors, which still do not say anything about rate being expired, I did an update to the MC00100 table and pushed out Expiration dates a year for the rate that correspond to the invoice dates from the PM10000 table. That allowed all the batches to get posted.
Our user that manually maintains the rates, updates it every day. Should we adjust how the daily rates are entered? Should the expiration date be entered using a date way in the future? Attached are pics of the table setup and the rate window. Are we doing something wrong?
Our company marches to its own drummer and some of the batches we have to post are from last year. Payments are made outside of GP via a wire.
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Not a clue. I was working with the user all along and kept asking him if everything was okay with the excel file. It wasn’t until we had a scheduled call with our VAR that he realized there were leading zeroes on the asset IDs in the sheet. He was able to edit the file and the asset group was created just fine. He had no idea of where they came from. But appreciate all of your responses and suggestions. š
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Update. This issue with the import of assets into the group was a problem with the file. Excel placed leading zeroes on each asset ID which messed everything up. But realized there may be a limit on the amount of assets that can be mass retired at one time. The original group was created with 500 assets, and GP appeared to be working and even gave a message that the mass retirement was successful. But none of the 500 were actually retired. We dropped the number of assets in the group to 50 and it worked like a charm. I looked at the FA manual as did our VAR and did not see any limits called out. But the issue was resolved.
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Mystery solved. My boss said he only saw this database only on our GP database servers. Which had me scratching my head. But speaking with our head dba (who was out of the office when I posted this), said the Maintenance db is one of his creations that works with our database backups. And the reason it was growing out of hand was the fact he forgot to add the cleanup job which truncated the tables after three days. All is good.
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Thanks Tori for your reply. This is really a strange one. I have two physically separate instances of GP one being production and the other test. Test is essentially a clone of prod. The older batches that I cannot post in prod, post without a hitch in test! I’ve looked at all the setup of MC between the two and cannot see any difference. The only difference if the test environment is about three months out of date. The test environment was stage at the time we were testing the GP year end update. In production these batches give an error message that there are mutlicurrency errors and posting them throws them into Batch Recovery saying Transaction Edit needed(or something like that). No useful messages on the Edit list. Even though we are not seeing messages saying the Exchange rate is expired, could I update SQL to push the expiration date into the future to see what happens?
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Hello again. Worked with the user and watched what he did. He was creating a new group by importing from excel the assets he wants to retire. Upon completion of the import the report that printed had only two columns of data; one showing the asset id and and the second saying that the No suffix exists, nuts. Didn’t get that screenshot. Ugh. He said the excel file was the same file and format they use all the time, but obviously nothing is being imported in and checking Show Selected, the window was empty. Unfortunatley FA is something I did way back but using Sage, not GP, so I am not a lot of help. I’ll happily reach out to our partner for assistance, but if you think this is something as simple as a messed up excel feed file, please let me know. I have sometime on this .
Thanks for all the help as usual!
HB
