Debit Adjustments in Foreign Currencies: Implementation Checklist
The following sections provide details you can use to ensure that the system is configured properly for processing debit adjustments in a foreign currency, and to understand (and change, if needed) the settings that affect the processing workflow.
Implementation Checklist
We recommend that before you initially process a debit adjustment, you make sure the needed features have been enabled, settings have been specified, and entities have been created, as summarized in the following checklist.
| Form | Steps to Perform |
|---|---|
| Enable/Disable Features (CS100000) |
Make sure that the Standard Financials and Multicurrency Accounting features have been enabled. For details on configuring the multicurrency functionality, see Multicurrency Functionality: Implementation Activity. |
| Vendors (AP303000) | Make sure that the vendor accounts for the vendors for which you will create AP documents have been defined. |
| Currency Rates (CM301000) |
Make sure that the effective currency rate for the currency of the AP document has been defined. For details, see Configuration of Rate Types and Rates: To Configure Rates and Configuration of Rate Types and Rates: To Set Up Refreshing of Rates. |
Other Settings That Affect the Workflow
You can affect the workflow of processing debit adjustments by specifying additional settings as follows:
- On the Posting Settings tab of the General Ledger Preferences (GL102000) form:
- To cause GL batches to be immediately posted after they are released, select the Automatically Post on Release check box.
- To cause every AP transaction you enter to be posted as an individual batch to the general ledger, clear the Generate Consolidated Batches check box. If this check box is selected, the system consolidates into a single batch all transactions in the same currency posted to the same period for all documents being released.
- On the General Settings tab of the Accounts Payable Preferences (AP101000) form:
- To cause all created debit adjustments to have the Balanced status, clear the Hold Documents on Entry check box in the Data Entry Settings section. If this check box is selected, the created debit adjustments are assigned the On Hold status.
- To make entering a vendor reference number in the Vendor Ref. box mandatory when creating an AP bill on the Bills and Adjustments (AP301000) form, select the Require Vendor Reference check box in the Data Entry Settings section. If this check box is cleared, you can leave the Vendor Ref. box empty when creating an AP bill.
- To cause AP bills to be automatically posted to the general ledger once they are released, select the Automatically Post on Release check box in the Posting Settings section. If this check box is cleared, you have to post the batch after you release the document.
Validation of Configuration
To make sure that all configuration has been performed correctly, we recommend that in your system, you process debit adjustments in a foreign currency by performing instructions similar to those described in Debit Adjustments in Foreign Currencies: Process Activity.