How to Create a Vendor Deposit for a Foreign PO

Here is an example of a foreign purchase order for your reference.

Create a Vendor Deposit

1. Go to the Odoo Dashboard and click on the Accounting Module.

2. Click on the "Vendor" tab and select "Payments".

3. Click on the "New" button to create a new payment record.

4. Fill in the required information: the vendor's name, date of the transaction and if necessary, add a memo.​

Note: Change the payment currency to foreign currency and ensure that you have checked the "Apply manual exchange checkbox" if you need to manually add the conversion rate against the base currency.

Enter the amount in your local currency (e.g. NZD) and the foreign currency (e.g. USD) based on the prevailing exchange rate. This will allow Odoo to display the applicable exchange rate based on the amount entered for your payments.

5. Check the "Apply to all new transaction for record date" checkbox.

6. Confirm the bank account > click on "Apply" > click on "Confirm" to complete the payment reconciliation process.

Reconcile the Vendor Deposit

7. Navigate to the dashboard 

8. Go to the relevant bank account ​

9. Search for the transaction by reference or vendor's name > Click on the "Validate" button to mark the transaction as reconciled.

Check the payment.

10. Access the report section of the accounting module > Select the "Aged Payable" report.

11 Locate the vendor's name you want to check > Review the amounts displayed for both the base currency and USD currency.