FXRate issue  Topic is solved

Discussions relating to plugin development, and the Jiwa API.

Re: FXRate issue

Postby Scott.Pearce » Mon May 13, 2019 12:43 pm

I also want to make clear the workflow that is at play here regarding shipments. Here is a typical example of what happens:

1. We are in Australia. A number of purchase orders are raised for a number of different USA suppliers. The purchase orders are sent to the suppliers.
2. The suppliers fill the orders, send the goods to a single waiting shipping container in the USA.
3. The shipping container is put on a boat and sent from the USA to Australia. Some information is sent to us regarding vessel name, expected arrival date, etc.
4. We create a shipment in Jiwa and add the information received from step 3. We also add to the shipment the purchase orders that form the shipment.
5. Whilst the shipment is still in transit, electronic invoices are sent to us from the suppliers.
6. The invoices are added to the shipment. When the purchase orders were added to the shipment at step 4, Jiwa helpfully added invoice entries, so instead of adding invoices we may be simply updating some existing invoice entries, I.E. WITH THE FX RATE THE SUPPLIER USED WHEN THEY GENERATED THE INVOICE.
7. When the shipping container arrives at our warehouse we unpack it and "book-in" the stock - but that is a story for another time.

When shipments are booked-in, activated, invoiced, etc. Jiwa generates various journal sets that impact the accounting. Jiwa does clever things such as dealing with the difference between what we thought the fx rates were going to be (the ones we entered on the purchase orders) and what the fx rate actually were (what the suppliers used on the invoice). But that too is a story for another time.
Scott Pearce
Senior Analyst/Programmer
Jiwa Financials
User avatar
Scott.Pearce
Senpai
Senpai
 
Posts: 742
Joined: Tue Feb 12, 2008 11:27 am
Location: New South Wales, Australia
Topics Solved: 221

Previous

Return to Technical and or Programming

Who is online

Users browsing this forum: No registered users and 4 guests

cron