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- Address Set Setup
- If the sales program is assigned by address sets, then the address set setup is required.
Realized Gain Account and Realized Loss Account configuration in the Company Currency tableCurrencies list view.
Only applies to multi-currency transactions.
These accounts must be set in the database.
Understanding the Data Flow
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- Accounts Receivable Batch
- Creates negative AR Sales transactions in NorthScope with Ready to Post status when the settlement amount is positive (the settlement was created from a sales order or a positive price adjustment transaction). The transaction is send to the Host system when the Host system integration is turned on for AR Invoice/Return transactions.
- Creates a positive AR Sales transaction in NorthScope with Ready to Post status when the settlement amount is negative (the settlement was created from a return or a negative price adjustment transaction). The transaction is send to the Host system when the Host system integration is turned on for AR Invoice/Return transactions.
- Accounts Payable Batch
- Creates AP Invoice transactions in NorthScope with Ready to Post status when the settlement amount is positive (the settlement was created from a sales order or a positive price adjustment transaction). The transaction is send to the Host system when the Host system integration is turned on for AP Invoice/Credit Memo transactions.
- Creates AP Credit Memo transactions in NorthScope with Read to Post status when the settlement amount is negative (the settlement was created from a return or a negative price adjustment transaction). The transaction is send to the Host system when the Host system integration is turned on for AP Invoice/Credit Memo transactions.
- Write off
- Creates a new journal entry with Ready to Post status to record the write off and sends the journal entry to the Host system when the Host system integration is turned on for Journals. The journal entry can be reviewed from the Sales Order transaction record.
- Removes the settlement batch from the Batch ID menu. Any settlement transactions that were assigned to batch but were not settled/written off can now be assigned to other batches.
Currency Gain/
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Loss
If the Sales Order transaction was created in other than the Company currency, the settlement processing verifies if the exchange rate has been changed between the original invoice date and the settlement processing date. If the rate has changed, the Settlement amount to pay is multiplied with the rate difference amount and the currency gain/loss is recorded in a new journal entry. The journal entry is created with Ready to Post status and it is send to the Host system, if the Host system integration for Journal is turned on. The Realized Gain and Loss accounts can be configured in the Company Currencies list view (Company → Company Currencies).
Note: Be sure to post the settlement transaction batches in the Host system for all accounting to hit the GL.
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