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Kathy Barthelt
/ Categories: Infor LN & Baan Tips

Infor LN & Baan Tips & Tricks for FINANCE:  Currency Differences Accounts

Currency differences can make the financial analysis and reconciliation more complex. These types of currency differences can occur:

  • Currency differences
    Currency result caused by fluctuations in the exchange rate, for example, if the rate differs between the invoice date and the payment date.

  • Exchange gain and loss
    Currency result caused by the use of different exchange rate types, for example, the Sales rate type and the Internal rate type, or if using the rate determiner you have changed the exchange rate for a transaction during the order handling procedure.

  • Translation gain and loss
    Currency result caused by the use of different currencies during the order handling procedure, for example, if the order currency or the payment currency differs from the invoice currency.

  • Destination gain and loss
    Currency result caused by different results when the transaction currency is converted to the various home currencies. Destination gain and loss can only occur in an independent currency system.

To support good reconciliation possibilities, currency differences and exchange gain and loss are posted to these accounts:

  • Exchange Gain and Loss
    For differences between related amounts (debit and credit postings) due to different exchange rate types or different currency rates.

  • Currency Translation
    For transactions in which the debit posting and the credit posting are made in different currencies.

  • Currency Differences contra account
    For currency differences on the invoice accrual account due to rate changes between the receipt date and the approval date of the invoice and calculated when you close a financial period.

Previous Article Infor LN & Baan Tips & Tricks for OPERATIONS: Update, Cancel or Remove Outbound Order Lines
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For years, paper work instructions have been a standard part of manufacturing. They were easy to distribute, simple to update, and familiar to operators.

But manufacturing has changed. Products are more complex, customer expectations keep rising, and as experienced employees retire, new hires often need to become productive faster than ever before. As a result, many manufacturers are rethinking how information is delivered on the shop floor.

The Challenge with Paper

Paper work instructions create several common challenges:

  • Multiple versions of the same document
  • Outdated instructions remaining at workstations
  • Time spent searching for the correct information
  • Longer training periods for new employees
  • Inconsistent processes between operators

On their own, none of these seem like a major problem, but together they add up to real quality and productivity issues.

A Shift Toward Digital Work Instructions

One trend we're seeing across the manufacturers we work with is a move toward digital work instructions. Rather than relying on printed documents, operators receive the latest approved instructions directly at their workstation, along with supporting images, videos, and other visual aids. This helps ensure every operator is working from the same information, every time.

Manufacturers making this shift are also gaining new capabilities they didn't have with paper: capturing production data directly from the shop floor, improving traceability, and supporting standardized work across shifts and facilities.

What Manufacturers Are Reporting

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