If a Latvian company receives payments from a foreign bank and deposits it into a domestic bank, the company must prepare a monthly report on the incoming payments that exceeded a certain amount of Latvian Lats, as established by the Latvian Central Bank.

The company must also declare all foreign payments issued by or received in their foreign bank accounts at the end of each month, if the value of such payments exceeded a certain amount of Latvian Lats.

Use the Statement of foreign payments received in domestic banksand Statement of foreign payments via foreign banksforms to generate and print the required reports.

And there must be corresponding journal entries to indicate the foreign receipts and payments. So the Accounts receivable, Accounts payable and General ledger are modified to post the corresponding transactions.

1. Click General ledger> Journals> General journal

   –or–

   Accounts receivable> Journals> Payments> Payment journal

   –or–

   Accounts payable> Journals> Payments> Payment journalto open the Journalform.

2. Press CTRL+N to create a new transaction line, and enter the required details.

3. Click Linesto open the Journal voucherform.

4. In the Overviewtab, select Offset account typeto Bank, and enter the required details.

5. In the Paymenttab, under the Notification to the central bankfield group, select or enter values for the following fields:

   • Central Bank Purpose Code– Select or modify the code used when reporting to the central bank.

   • Currency op code– Enter the currency operation code according to the central bank.

   • No. of currency purchase– Select the date and number given on a currency purchase order.

   • Purpose text– Enter a brief description on the code used when reporting to the central bank.

   • Import date– Select or modify the import date of items to be included in the report.

   • Payment registration number– Enter the payment registration number assigned by the bank.

6. Click Post> Postto post the details in the bank forms.

7. Press CTRL+S or close the form.