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  13. Enter a multi-currency settlement

Enter a multi-currency settlement

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You can enter a payment which is in one currency (e.g. GBP) to partially match an invoice in a different currency (e.g. USD). The system automatically calculates the exchange rate difference for the partial payment based on the exchange rates for different periods.

Prerequisites
Use a payment document type with a pre-defined pseudo account as contra account, and VAT/default accounts and G/L postings panel set to NO.

  1. Select the Enter financial transactions menu item.
  2. On Financial system transaction entry, complete the applicable fields and click OK. For further instructions and field descriptions, see Open a new batch.
  3. You remain on the same panel, which is now updated, showing only the routines that are valid for the selected voucher type. Select routine A/R payments and click OK.
  4. You access the Transaction entry panel. The following fields are relevant:
    5. Document type
    Enter a payment document type.
    Document date
    Enter the applicable document date.
    Debtor number
    Enter the debtor number.
    Transaction amount
    Enter the transaction amount, e.g. in GBP.
    Currency
    For example, enter GBP.
    Exchange rate period
    Exchange rate level
    These fields are defaulted by the system.

    Click OK.

  5. You access the A/R settlement workbench with the payment you have just entered, as well as all other A/R open items for the specified debtor and currency. Select Single/Multiple currency from the Function list to toggle to the multi-currency mode. The active mode is displayed in the top header on the right hand side.
  6. You remain on the same panel showing, in system currency, the payment document and all open invoices regardless of the currency in which they were entered. Click Currency to view the various currencies in the sub-file.

    7. Note: If you are in multi-currency mode the main amount and settled balance will always be in system currency.

    You can match the partial payment (in GBP) against the invoice (in USD) by selecting the invoice and clicking Settle. The system automatically balances the payment.

    Note: The amount paid for an invoice, in transaction currency, is calculated on the paid amount in system currency. This is done by the system using the exchange rate, based on the payment date (the period containing the payment date), retrieved from the Exchange rate table.

    Tip: You can also manually balance the partial payment by selecting the invoice and clicking Change.

  7. You access the A/R settlement workbench again. The payment has been partially matched to the invoice. The payment (in GBP) was partially matched against an invoice (in USD). The remaining amount (in USD) is in transaction currency. An exchange rate difference (in GBP) was created. Click Currency to show the transactions in system currency.
  8. You access the A/R settlement workbench with the amounts in system currency. The panel indicates that the payment has been settled and the invoice partially settled. An exchange rate difference in GBP was created in the process. When the settlement balance, click Update. Exit the routine.

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