Why is the amount of Balance and Balance (Foreign Currency) column on Vendor Saved Search different from the amount in the Balance fields on the Vendor Record
Published on
January 29, 2024 at 2:37:33 AM PST January 29, 2024 at 2:37:33 AM PSTth, January 29, 2024 at 2:37:33 AM PST
Scenario:
User wanted to know why is the Amount of Balance and Balance (Foreign Currency) column on Vendor Saved Search is different from the amount in the Balance fields on the Vendor Record
Solution:
TheBalancecolumnon the Vendor Saved Search extracts information from theVendorRecord>Subsidiariestab >Balance (Base)field of thePrimary Subsidiary.
TheBalance(Foreign Currency)column extracts information from theVendor Record>Financialtab >Balance Informationsection >Balancefield.
If there isnoSubsidiaryselected underHome>Set Preferences>Restrict Viewtab >Subsidiary field.
a. Amount in theBalancecolumn= Amount in theBalance (Base)field xConsolidated Exchange Ratefor the period.
b. Amount in theBalance(Foreign Currency)column= Amount in theBalancefield under Financial tab xConsolidated Exchange Ratefor the period.
Consolidated Exchange Ratecan be found by:
1. Navigate toLists>Accounting>Consolidated Exchange Rates
2. Expand theFiltersfolder:
a. In thePerioddrop down field, select thecurrent period
b. In theFromSubsidiarydrop down field, select thePrimary Subsidiaryof theVendor Record
c. In theToSubsidiarydrop down field, select the Name ofParent Company
3. ClickCalculate
If theSubsidiaryselected under theHome>Set Preferences>Restrict View tab>Subsidiaryfieldis the same as thePrimary Subsidiaryselected on theVendor record, the amount showing up in theBalance (Base)field on theVendor Recordis the same as theBalancecolumnon theVendor Saved Search,the amount showing up in theBalancefieldon theVendor Recordis the same as theBalance(Foreign Currency)columnon theVendor Saved Search.