Як вести облік в іноземній валюті: від закупівлі до оплати постачальнику

Foreign currency purchases: how to settle with a supplier in USD or EUR if goods were received in a foreign currency but sales in the store are in UAH (exchange rate recalculation)?

The Torgsoft program implements a full mechanism for working with foreign currencies, which allows you to purchase goods in USD or EUR, sell them in UAH, and then correctly settle with the supplier in the purchase currency.

The process of calculation and exchange rate recalculation consists of several logical stages:

1. Receiving goods in a foreign currency 

When creating a goods receipt document (menu Document — Goods Receipt), in the "Currency" field you need to specify the supplier's currency (for example, USD or EUR). Since the national accounting currency in the program is UAH, the "Exchange rate to UAH" field will automatically appear next to it, where you need to enter the current rate. The program will automatically recalculate the purchase price into the national currency according to this rate. In addition, the product retains a price equivalent in the foreign currency, which later allows you to easily change retail prices in UAH when the exchange rate fluctuates.

2. Converting UAH to foreign currency (Currency purchase) 

Since you receive revenue in UAH but need to pay the supplier in USD or EUR, you need to perform a virtual currency exchange in the program.

• Go to the main menu Payments — Financial document and click the Currency exchange button.

• In the window that opens, select Buy currency and specify the currency you want to purchase (USD/EUR).

• In the National currency cash desk field, specify the cash desk from which UAH will be taken to purchase currency.

• In the Foreign currency cash desk field, a cash desk in the corresponding currency will appear automatically.

• Enter the amount in UAH that you plan to exchange and specify the exchange rate. Keep in mind that the rate is always indicated from the entrepreneur’s perspective (owner), meaning you buy currency, not the bank, so the value in the "Sell" field must be higher than "Buy".

• Click the Calculate amount in currency by rate button, after which the program will show the amount in foreign currency you will receive.

• Click Buy. After that, the exchanged amount in USD or EUR will be credited to your foreign currency cash desk.

3. Settlement with the supplier in foreign currency 

After funds appear in the foreign currency cash desk, you can repay the debt to the supplier.

• Go to the menu Payments — Partner balance.

• Select the partnership type "Supplier", set the delivery period, and обязательно select the currency (USD or EUR) in which the delivery was made. In the "My debt" column, you will see the amount of your debt in this currency.

• Click Show payments, then Add payment, and select Payment to supplier.

• In the payment window, make sure the correct currency is selected, choose the payment method Cash desk, and specify your foreign currency cash desk (Sender).

• Enter the amount in foreign currency you are paying to the supplier, add a description if needed, and click Save. After refreshing the form, your debt to the supplier in foreign currency will decrease by the entered amount.

4. Dynamic retail price recalculation (rate adjustment) 

To keep your sales in UAH profitable when the USD or EUR exchange rate changes, use the special revaluation tool.

• Go to the menu Warehouse — Calculation of retail and wholesale prices by markup and rate.

• This mode allows you to mass recalculate retail prices in UAH based on the equivalent price in foreign currency or from the purchase price.

• You can set a new rate by clicking the Exchange rate button. The rate entered for today will be applied to all products that have a price equivalent in foreign currency.

• This allows you to quickly perform price revaluation in the store (instantly or via a revaluation act) during sharp fluctuations in the currency market, so that the collected UAH is always sufficient to purchase currency for future settlements with suppliers.