mrc-multiple reporting currency.
it is very essential to perform transctions in diff 
currencies or to convert foreign currency in inr.

before knowing MRC you should have a clear picture of

REVALUATION - Is the process of converting funtional 
currency into other currency and reporting any gain or loss 
in terms of funtional currency. 
TRANSLATION - Is the process of just translating  balances 
into other currency. 
Mrc - gives more detail picture of reporting , here we can 
assign 8 reporting set of books

once we come across the period ending process for general 
ledger,(assuming we have doen transsaction with US)

we do revaluation with USD and see if there is any gain or 
loss, Example purchased goods on 1jan exchange rate is 45 
now i made payment on 31jan and the exchange rate is 40 ,
in this tpye of circumstances we do revaluation .

translation (assuming our parent company is in US)

In this case all the funtional curency(accounts balances) 
will be translated in USD this is for just reporting to our 
parent company , Example GE(hyd) GE(usd) it has to report 
the balances into usd. it will translate the balances (no 
revaluation)

As a application developer.we have do unit testing.

IN AP MODULE
   DEBITMEMO:IT IS THE DOCUMENT ISSUED BY SUPPLIER TO
              THAT HE IS REDUCING THE INVOICE AMOUNT
   CREDITMEMO:SAME LIKE DEBITMEMO BUT IT IS ISSUED BY
              CUSTOMER

In Payables

Debit memo will be rised by us, credit memo will be rised 
by the supplier. Both memos increases the Laibility of the 
Suppliers.
we will rise dedit memo when u return the good to supplier.
credit memo will be rised by supplier for any damaging 
goods, discounts etc.

In Receivables

Credit memo- will be rised when ruturned goods from the 
customer. it derceases the Receivable A/C of the customer
Debit memo- it increses recevable A/C of the customer(Any 
additional charges

credi memmo is at the time of credit purchase  sundry 
creditpr isuued the  credit memmo
at tht time of credit sale sundry debtor issued form of 
debit memmo

IN PAY BLE
THERE R 8 TYPES OF INVOICE ,WE R DEALING WITH
standrd invoice
credit memo
debit memo
expence report
po default
quick match
prepayment
mixed

there 10 types of invoices are there

standrd invoice
credit memo
debit memo
expence report
po default
quick match
prepayment
mixed
withholding tax
recurring

6 types of invoices

Set of predefined or restricted values for a field

A set of predifined and validated values assigned to a
field,that resticts the user from entering junk or
invalidate data

value sets acts as validation for value enter by the 
user.value sets has value and description

Value sets are used for uniquely identification of a 
segment and Certain values determined on that.

2 way :  Inv will be generated as per PO.

4 way :  Inv will be generated after compare

         PO,Receipt and Inspection.

2 way : po->invoice
4 way po_receipt->inspection->invoice