Entering FC transactions

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    This section provides an overview of how to enter FC transactions and what types of transactions may be entered.

    Entering FC transactions

    The system always requires you to enter FC transactions in FC denominations.  A transaction records only one XR, so therefore, all entry lines in a transaction are recorded at the same rate.

    Although all FC transactions display in FC, the transaction records amounts in both FC and in HC.  The HC amount is calculated by XR x FC Amount, where the XR may be the System Rate or a custom rate.

    You may perform the following types of transactions:

    • Make FC Payments
    • Receive FC Payments
    • Receipts for FC Assets
    • Receive FC Payments for Pre Appointment Debtors
    • Receive FC Payments for Post Appointment Debtors
    • Receive FC Payments on Account
    • Realise FC Assets
    • FC Transfers
    • FC Journal Entries
    • XR Gains (Losses)

    You may not enter Accounts Payable (Liabilities) in FC.