Hello
How to amortize prepaid expenses in foreign currency? Currently it’s just available in NS UK edition.
Small exemple:
Sub A -> Base Currency CAD
Sub A buys an insurance of 12000 USD for a year. Sub A would like to amortize the amount in USD each month using the historical exchange rate
l
Luis
12/02/2022, 10:29 AM
If you'll just use the historical exchange rate (which means it's fixed or is the rate at the time of recognition of the prepaid expense), what is the difference from amortizing using the base currency?
m
Marc
12/02/2022, 11:23 AM
view currency amounts on journal entries and on the amortization schedule
Marc
12/02/2022, 11:24 AM
know the precise amounts in currency according to the different calculation rules (linear, prorata, etc.)
l
Luis
12/02/2022, 12:39 PM
Got it. You have additional reporting requirements. Not sure how you can handle that. Sorry, can't help.
m
Marc
12/02/2022, 12:41 PM
I have configured an amortization scheduled search and I have added formulas to get the rates in currency. It allows me to know the amounts of amortization in currency