Purchase Elimination

General Description #

The purchase elimination report allows you to eliminate differences between the contract exchange rates and the current exchange rate of the purchase orders (both paid or open) and also the orders for which no invoice is made or received. The report displays only those contracts for which currency (hedging) contracts are associated. The report allows you to calculate the difference between the contracted exchange rates and the current exchange rates and book the same.

Columns #

  • Currency: The currency selected for the contract is displayed in this column. The value is fetched from the field currency of the related contract. On hover, the column displays the info text “Currency”.
  • Invoiced: The column represents whether the order is invoiced or not. On hover, the column displays the info text “Amount of the borderline whose sales invoices are exported and have a paid date”.
  • Display Number: The contract number of the related purchase contract of the invoice is displayed in this column. On hover, the column displays the info text “Display number”.
  • Contract Date: The contract creation date of the related purchase contract is displayed in this column. On hover, the column displays the info text “Date contract was closed”.
  • Relation name: The name of the relation/supplier of the purchase contract is displayed in this column. On hover, the column displays the info text “Buyer/seller of the product”.
  • Exchange rate: The exchange rate of the purchase contract is displayed in this column. On hover, the column displays the info text “Currency exchange rate”.
  • Remaining value in kg: This column gives the value(amount) of the remaining quantity from the contract. On hover, the column displays the info text “Remaining value in kg”.
    • Calculation: Remaining value in kg = Remaining quantity from contract * (price per ton/1000).
  • Remaining quantity in F.C: This column displays the value(amount) of the remaining quantity from the contract in foreign currency. On hover, the column displays the info text “Remaining value in FC”.
    • Calculation: Remaining quantity in F.C. = Remaining quantity from contract * (price per ton/1000) / exchange rate.
  • Quantity Unit: The quantity unit used in the contract is displayed in the column. On hover, the column displays the short info text “Unit used in quantity.”
  • Pricing Unit: The pricing unit used in the contract is given in this column. On hover, the column displays the short info text “Unit the contract is priced in.”
  • Invoice number: The invoice number of the booked (goods) invoice is displayed in this column. On hover, the column displays the info text “Invoice number”.
  • Invoice Date: The invoice date from the booked invoice is displayed in this column. On hover, the column displays the info text “Invoice date”.
  • Invoice Amount in F.C: The total amount of purchase invoice in foreign currency is given in this column. On hover, the column displays the info text “Invoice amount in FC”.
  • Paid Date: The payment date of the booked (goods) invoice is displayed in this column. On hover, the column displays the info text “Paid date”.
  • Contracts currency reference: The bank contract number of the currency contract related to the purchase contract is displayed in this column. On hover, the column displays the info text “Contracts currency reference”.
  • Contract currency date: The expiration date of the currency contract is given in this column. On hover, the column displays the info text “Contract currency date”.
  • Total contract exchange rate value: Displays the value of the Contract as per the exchange rate. On hover, the column displays the info text “Total contract exchange rate value”.
    • Calculation: Total Contract exchange rate value = Purch. Inv. Amount in F.C * Exchange rate.
  • Total default Exchange Rate value: Displays the value of the contract as per the default exchange rate. The default exchange rate is a custom field in the contract Screen. If there is no value entered for the default exchange field in the contract, the value 1 is taken by default in place of the default exchange rate. On hover, the column displays the info text ” Total default exchange rate value”.
    • Calculation: Total Default exchange rate value = Purch. Inv. Amount in F.C * Default Exchange rate.
  • Difference: The difference between the contract exchange rate value and default exchange rate value is calculated in this column. On hover, the column displays the info text “Difference”.
    • Calculation: Difference = Total contract exchange rate value – Total default exchange rate value.
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Updated on September 19, 2024
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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.