Method 1 - Payment using EFT / Cheque payment and automatic allocation process
To pay Woo Dragon and Woo Sun and automatically allocated the payments to the invoices raised, complete the following:
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- Press Select at the lower edge of the screen to retrieve the invoices
- Determine the AUD amount required to discharge the USD liabilities (in this case the $USD 63,000 required $AUD 73,538.85 to discharge the liability)
- The AUD amount paid to Woo Dragon was 30,000 / 63,000 X $AUD 73,538.85 which is 35,018.50 - enter 35,018.50 in the Payment Amount column
- The AUD amount paid to Woo Sun was 33,000 / 63,000 X $AUD 73,538.85 which is 38,520.35 - enter 38,520.35 in the Payment Amount column
- Press Save
- Press Activate
Journals for the Landed Cost Shipment
Method 2 - Payment made prior to Invoice being received
To pay Woo Dragon and Woo Sun ( foreign currency (FX) designated creditors), complete the following:
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