Foreign Currency 2

This wiki will show you how to sell items using a foreign currency using both GST and PST.

1) Insert Ledger accounts

• Menus > Ledger > Ledger > Account Categories
• Insert account 2210 (if it doesn’t exist already), with a description of GST Payable.
• Insert account 2220 ( if it doesn’t exist already) with a description of PST Payable.

2) Ledger Preferences
Maintenance > Preferences > Ledger
Enter the 2 accounts near the bottom of the window.

3) Insert or Edit Currency

• Menus > Maintenance > Maintenance > Users Lists > Group 2 > Currency
• Verify that the Canadian currency exists, with a Currency unit of $Can and Symbol of C$. If they do not
  already exist, insert them.

4) Insert County Tax Rate

• Menus > Maintenance > Maintenance > Users Lists > Group 2 > County Tax Rate
• Enter the desired code and county name.

NOTE: THE TAX RATE MUST BE THE TOTAL OF GST AND PST.
In this example we are assume GST is 7% and PST is 5%, so the total is 12%. Thus, you would
enter 12% in the Tax Rate field.

5) Enter the County Tax Rate in the Customer Shipping window

• Menus > Customer > Shipping

6) Enter the Foreign Currency name, and GST % in the Customer Prices window.

• Menus > Customer > Prices
• Click the Edit button next to the Price Level fields
• Enter the Foreign Currency UNIT in the Foreign Currency field
• Enter the GST amount, in this example 7%
• Place a check in the GST and PST Tax on Freight box.

7) Insert an order then invoice it.

• Do not enter a freight amount. Instead, click the Currency Ship button on the invoice, and then enter the freight there, and press OK.

8) To see the amounts in Canadian $, click the Show C$ button.

Note – Foreign Currency with GST and PST is only supported in the PrintA function (Form Editor module).