We have a situation where we need to create an invoice in England for VAT TAX in pounds currency.

[Former Member]

Hello,

We have a situation where we need to create an invoice in England for VAT TAX in pounds currency.

In our current company code were using 2 currencies local and group and both are set to USD.  Will we be able to create a VAT TAX invoice (purchase and sales) in pounds with our current company code or will we need to create a company with pounds as its local currency and USD for the group currency? Appreciate any help in this issue.

We know that we will need to maintain the exchange rates and foreign currency transaction.

Thanks in advance.

Regards,

Dan

[former_member184580]

Hi Dan,

You will be able to create vat in document currency (GBP) and please make sure that you have maintained exchange rate conversions from USD to GBP.

Regards,

Prasad

[former_member198650]

Hi Dan,

Why you want to set same currency i.e.USD for local and group currency? You have to set one currency as local and another one currency as group currency.

Regards,

Mukthar

[Former Member]

Hello Mukhar,

We use the same currency for local and group because when we created the company codes in the USA, we only used USD cor currency.

Regards,

Dan

[former_member198650]

Hi,

If you are using same currency as local & group currency, then no need to maintain exchange rates. If it is other than local currency, then you need to maintain.

Regards,

Mukthar