how to treat FX differences for stock items

[johnhugh]

Hi, I'm using Accpac 6.
Items on a foreign currency PO are receipted into stock at the receipt days FX rate.
When the PO invoice is entered and the FX rate has chanegd the stock control account is credited or debited again with the FX difference.

Is there a way that Accpac can be set up so these FX variances from the PO invoice go straight to a FX GL account and not to the stock control account?

 

[DjangMan]

Not that I know of. In theory if there is a difference due to FX variances that's just like a vendor's invoice coming in at a different amount. The value of the inventory is impacted.

You can also run into challenges if you've sold the stock - you'll end up with zero quantity with a residual value which has to be adjusted out to COGS.

 

[johnhugh]

Thanks DjangMan.

It's correct what you're saying. What I'd like to do is to have any FX variance go to the FX GL account, instead of inventory.
Not sure whether that's possible though.