Automated Forex Gains and Losses in BlueBox

BlueBox has an automated way of dealing with the gains and losses which occur when a payment is finally attached to a debtors or creditors invoice.

It looks for a gain/loss between the base currency value in the invoice vs the base currency value in the payment.

If there is a gain/loss is check the following to see if it can automate the application of a suitable adjustment document (ie direct debit/credit note) to be applied to the invoice to correct the loss:

• The payment must be in the same forex currency as the invoice
• The payment must be for the full amount of the invoice (not just the balance owing)
• There must be a bb_sales_debtors_direct_debit_notes_types named 'Forex Gain Adjustment'
• There must be a bb_sales_debtors_direct_credit_notes_types named 'Forex Loss Adjustment'
• There must be a bb_procurement_creditors_direct_credit_notes_types named 'Forex Gain Adjustment'
• There must be a bb_procurement_creditors_direct_debit_notes_types named 'Forex Loss Adjustment'
• The must be a nominated GL account for gains in the bbsetting: bb_finance_general_ledger_accounts > bbsetting_forex_gains_account
• The must be a nominated GL account for losses in the bbsetting: bb_finance_general_ledger_accounts > bbsetting_forex_losses_account

Once these pre-requisites are confirmed to be in place the system will automatically add the required DR/CR notes each time a forex invoice is paid in full.