I am using QB Enterprise in a multicurrency setting where my home currency is CAD & my purchases & ocean freight bills are in USD. Additional cost such as customer, inland transport, brokerage fees are billed separately in CAD.
I already defined item codes for all additional cost as other charges & mapped to Clearance landed cost accounts per each item code of additional cost.
The following steps were performed as follows:-
- Displayed the item receipt & clicked the calculated landed cost button.
- Add Bills & disburse the amount according to percentage/amount etc. & post it.
- The associated Journal entry shows that items purchases & Ocean freight dominated in USD were properly posted in CAD as per the defined exchange rate.
- However, all additional costs items dominated in CAD were as USD and multiplied by the exchange. which overstated the CAD additional costs & consequently the landed cost.
- Of course, the clearing landed cost accounts were still having balances as the DR amounts were in CAD original amount while the CR amounts were increased because they were treated as USD amounts.
Kindly review & provide a solution for this issue. Thank you in advance for your assistance & prompt feedback.
Best Regards,
