Foreign currency vendor credits

With AbaNinja, you can not only record and manage vendor credits in your account's standard currency, but also in various foreign currencies such as Euro (EUR) or US Dollar (USD). This is especially helpful when working with international vendors.

Function and process

• To record a vendor credit in a foreign currency, the desired currency must be stored on the vendor address under General. Once you create a new credit for this address, the corresponding currency is automatically taken over.
• When entering or importing the credit, you enter the positions, amounts, and account as usual. The amounts are displayed directly in the selected foreign currency (e.g. EUR, as highlighted in the screenshot).
• The exchange rates for Euro and US Dollar are automatically updated once a week in AbaNinja via an interface to the European Central Bank. You can find the current rates under Settings > Accounting > Currency.
• With a paid subscription, you can also record your own manual exchange rates for other currencies or overwrite the automatic rates.

Benefits

• You can correctly record and post vendor credits in the respective foreign currency.
• The automatic conversion ensures correct representation in your accounting and allows for transparent tracking of foreign currency documents.
• Exchange rates are automatically updated, but can be manually adjusted if needed.

Notes and tips

• Once a credit has been created for an address, the currency of this address can no longer be changed. If you need credits in multiple currencies, create a separate address for each currency.
• The exchange rate used for accounting is visible in the account statement or journal. You can manually adjust the rate if needed, if you have the corresponding subscription.
• Vendor credits in foreign currencies are automatically transferred to your accounting, provided an exchange rate is stored.
• Please note that you need a paid subscription to use foreign currencies.

Tip:
Use the option to manually enter exchange rates to respond to special agreements with your vendors. This way, your accounting remains correct and traceable - even with changing exchange rates.