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ID
0038380
TypeCategorySeverityReproducibilityDate SubmittedLast Update
defect[Modules] Cash VAT Managementmajoralways2018-04-16 17:162018-05-28 13:20
ReportermaiteView Statuspublic 
Assigned Tomaite 
PriorityurgentResolutionno change requiredFixed in Version
StatusclosedFix in branchFixed in SCM revision
ProjectionnoneETAnoneTarget Version
OSAnyDatabaseAnyJava version
OS VersionDatabase versionAnt version
Product VersionSCM revision 
Regression date
Regression introduced by commit
Regression level
Review Assigned Topsanjuan
Regression introduced in release
Summary

0038380: Bank Revaluation Gain and Bank revaluation Loss accounts used in same Cash VAT Payment entry

DescriptionIn case conversion rate differences exists between invoice's date and payment's date it is expected that Bank Revaluation account is used. But only Loss or Gain account should be used, no both of them
Steps To Reproduce0. Create Price List in MXN currency to be used in purchase flow. Add any product to it
1. Create Tax Rate for "F&B US, Inc." with any Rate and set as "Cash VAT". Access "Accounting" tab and fill Tax Due, Tax Credit, Tax Due transitory and Tax Credit transitory fields
2. Create Conversion Rate between MXN and USD for today's date as "Multiple by rate"=2
3. Create Conversion Rate between MXN and USD for tomorrow's date as "Multiple by rate"=3
4. Register Purchase Invoice for "F&B US, Inc." organization, previous price list and today's date
5. Add line and set previous tax. Process and Post invoice. Realize that proper amount is posted to Tax Credit Transitory account
6. Create Financial Account for "F&B US, Inc." and MXN currency. Go to Payment Method tab and add "Wire Transfer"
7. Create new Payment Out document for "F&B US, Inc.", date= tomorrow, Wire Transfer payment method, previous financial account. Run "Add details" and pay previous invoice. Process and Post payment. Realize that BOTH "Bank Revaluation Gain" and "Bank revaluation Loss" accounts are used when only one should be used
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Attached Files

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-  Notes
(0104232)
psanjuan (manager)
2018-05-03 14:01
edited on: 2018-05-03 14:24

 Reproduce the issue with below data to clarify why there is not an issue here:

Product Price is 10.00 MXN. Only 1 unit of the product is purchased.
USD Purchase invoice posting is (once converted into USD, at today's conversion rate):

20.00 USD (10.00 MXN *2) Product Expense DEBIT
4.20 USD (2.10 MXN *2) Tax Transitory DEBIT
24.20 USD (12.10 MXN *2) Accounts payables CREDIT

The organization will have to pay to the vendor 20.00 USD at today's conversion rate.

At the day of the payment the conversion rate is not 2 but 3, so there is a loss as we need to pay more USD for the same amount of MXN.

Same way there is a difference between transitory tax amount and the actual tax amount that will be deducted, so there is a gain here.

USD Posting is like the one shown below:

24.20 USD (12.10 MXN *2) Accounts payables DEBIT
6.30 USD (2.10 MXN *3) Actual Tax Expense DEBIT
12.10 USD (12.10 MXN *3 - 12.10 MXN *2) Bank revaluation loss DEBIT
36.30 USD (12.10 MXN *3) Checking account (actual amount paid in USD) CREDIT
4.20 USD (2.10 MXN *2) Tax Transitory CREDIT
2.10 USD (2.10 MXN *3 - 2.10 MXN *2) Bank revaluation gain CREDIT
(0104279)
dmiguelez (developer)
2018-05-04 12:09

 Waiting for the Partner's answer
(0104746)
maite (developer)
2018-05-28 13:20

 No change required as obtained entry is the expected one based on previous note's explanation

- Issue History
Date Modified Username Field Change
2018-04-16 17:16 maite New Issue
2018-04-16 17:16 maite Assigned To => Triage Finance
2018-04-16 17:16 maite Resolution time => 1525644000
2018-04-16 17:17 maite Issue Monitored: networkb
2018-04-20 11:20 dmiguelez Assigned To Triage Finance => collazoandy4
2018-04-25 10:07 dmiguelez Assigned To collazoandy4 => AtulOpenbravo
2018-05-02 20:37 AtulOpenbravo Status new => scheduled
2018-05-03 14:01 psanjuan Note Added: 0104232
2018-05-03 14:05 psanjuan Note Edited: 0104232 View Revisions
2018-05-03 14:23 psanjuan Note Edited: 0104232 View Revisions
2018-05-03 14:24 psanjuan Note Edited: 0104232 View Revisions
2018-05-04 12:09 dmiguelez Note Added: 0104279
2018-05-04 12:09 dmiguelez Status scheduled => feedback
2018-05-04 13:38 dmiguelez Assigned To AtulOpenbravo => maite
2018-05-28 13:20 maite Review Assigned To => psanjuan
2018-05-28 13:20 maite Note Added: 0104746
2018-05-28 13:20 maite Status feedback => closed
2018-05-28 13:20 maite Resolution open => no change required

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