Currency contracts

General Description #

The currency contracts report is a financial statement that gives the details of all the foreign currency(any other currency than the base currency of the operating subsidiary) contracts used in the goods contracts of the company. These contracts are usually fixed/contracted with the bank/broker one time for a specific period and used in trading for that period on the fixed/contracted rate to avoid the risk caused by the fluctuations in the exchange rates between the base currency and the foreign currency involved in the contract.

This report is used to track the currency contracts and the goods contracts in which these contracts were used. The report also gives you other details like the exchange rate used, and the value of contracts in both base and foreign currencies.

The report is available only for customers with configuration valutacontracten.enabled set to true.

Objectives/Purposes #

  • The report can be used to create overviews and analyze your business exposure with respect to foreign currencies used in the contracts and make informed decisions about currency hedging strategies.
  • The report can also be used to compare the details of the fixed bank/broker contract with the details of the currency contracts used in goods contracts.

Columns #

  • Subsidiary: The column displays the subsidiary for which the contract has been made. On hover, displays the info text “Subsidiary that owns the contract/lot”.
  • Currency: The column displays the currency used in the contract. On hover, it displays the info text “Currency”.
  • Bank contract no.: This column displays the bank contract number or currency hedging contract associated with the contract. On hover, displays the info text “Bank contract no.”.
  • Contract Date: The expiration date of the hedged contract in the format (yyyy/mm/dd) is displayed in this column. On hover, displays the info text “Date contract was closed”.
  • Base currency: The column displays the currency of the operating subsidiary used in the contract. On hover, it displays the info text “Base currency”.
  • Amount in FC: The amount of the hedged contract in contract currency is displayed in this column. Values are shown as negative from the sales contract and positive when linked to the purchase contracts. On hover, it displays the info text “Amount in Foreign currency”.
  • Amount in base currency: The amount of the hedged contract in the base currency of the subsidiary is displayed in this column. Values are shown as negative from the sales contract and positive when linked to the purchase contracts. On hover, it displays the info text “Amount in base currency”.
  • Period: The expiration date of the hedged contract (yyyy/mm) is displayed in this column. On hover, it displays the info text “Period”.
  • Exchange rate: The foreign exchange rate of the contract is displayed in this column. On hover, it displays the info text “Currency exchange rate”.
  • Contract number: The purchase contract number is displayed in this column. On hover, displays the info text “Contract number”.
What are your feelings
Updated on September 19, 2024
Table Of Contents

FAQ'S

Accounts and Financial

  • Unable to find invoice for export in current month

    Invoices are displayed on the export screen in a particular month. The month of the invoice is taken from the invoice date and not from another date, such as the due date.

    The invoice date is therefore leading in terms of month for export periods. For example: Invoice date 22-05-2022 and due date 15-06-2022. This invoice will appear in the export under the month May.