FC Pre Appointment Debtors

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    Overview

    Explains what the feature is or what its benefits are to the user or customer.

    FC Pre Appointment Debtors

    You may record and collect Debtors denominated in FC.

    Firstly, add the FC Asset holding account (as described above) and then add the Debtor (Financials > Assets > Add Asset > Accounts Receivable (Pre-Appointment)).

    Enter the FC Pre Appointment Debtor details:

    File:test/insolvency/260_24+Foreign+Currency/030_Adding+FC+Assets/020_FC+Pre+Appointment+Debtors/FC_Debtors.png

    Note

    The Date of Debt is automatically set as the Job’s Start Date.  The XR defaults to the most current system XR as at the Date of Debt.  The Holding Account is an asset account denominated in FC.

    Note

    The entry of a FC Pre Appointment Debtor crystallises any valuation for the purposes of pre appointment corporation tax.  If you wish to subsequently recognise any income arising from the collection debtors you will have to enter separate journal entries.