How to create System User and Employee in ERPNext

In this video we will learn How to use Forward Contract in ERPNext:

- First, you will have to go to the forward contract list and click on add forward contract.

- Add Necessary details like Booking Reference Number, contract amount, current rate, margin and premium, Booking Rate, Booking and Bank.

- Select Maturity Date and Maturity To

- Click on save and submit.

- forward contract can use through payment entry.

- Go to the Payment Entry list and click on New.

- Select the Party Type and the respective Customer/Supplier.

- Select the Bank Account/Cash Account Paid to and Paid From.

- Select the forward Contract in Forward Utilization table and Enter the Amount utilized.

- Enter the Amount Paid.

- Enter the Cheque Number and date if bank transfer.

- Save and submit.

- to cancel the forward contract

- Go to Forward Contract List, Open Current contract.

- In Cancellation Section, Enter Cancellation date, Cancellation Amount, Cancellation rate and select the bank.

- Click on add Cancellation details.

- Click on the update, after click on the update one Journal entry will post for Exchange gain loss entry.

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