How to pay Invoice witha payment in different curr
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How to pay Invoice witha payment in different curr
How to make a payment in a functional currency to pay invoice in a different currency?
Is it possible ?
please this is urgent
Is it possible ?
please this is urgent
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- Location: India
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- Posts: 3
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- Location: Egypt
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- Location: India
Hi all,
Your invoice currency is in USD and you need to pay in EUR, for this we need to do some setups, please follow the set ups,
1. In payable Options just you enable multi currency option.
2. You define one new payable Document.
3. define one new payment format with multiple currency (Enable multi currency check box and give the terget currency)
4. Enforce the new payment format to new payable document.
5. whenever you doing the payment just u select the new payable document (already we enforce the payment format to payable document).
By using this we can do the payment in differency currency.
Hi friends please give the direction if i am wrong.
Thanks and Regards,
Siva.
Your invoice currency is in USD and you need to pay in EUR, for this we need to do some setups, please follow the set ups,
1. In payable Options just you enable multi currency option.
2. You define one new payable Document.
3. define one new payment format with multiple currency (Enable multi currency check box and give the terget currency)
4. Enforce the new payment format to new payable document.
5. whenever you doing the payment just u select the new payable document (already we enforce the payment format to payable document).
By using this we can do the payment in differency currency.
Hi friends please give the direction if i am wrong.
Thanks and Regards,
Siva.
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Hi Siva,
You are right. This is the only way one can make payment in any currency.
But do we need to create one separately if the check printing is not used?
If there is no check printing happening at the client side and the payments are just recorded, then you can just:
1. Go to Payment Format Screen
2. Query the payment format that you have attached with the payable document in bank setup.
3. To your right hand side you can see the currency option where Single currency is enabled and provided.
4. Change that to multiple currency.
Now you will be able to to a multipple currency payment with same payment format. However logically, if the check printing option is there, then this process should not be followed rather cannot be followed.
But Saytara, please also check the invoice currency and payment currency setup for the suppplier if it has any validation.
You are right. This is the only way one can make payment in any currency.
But do we need to create one separately if the check printing is not used?
If there is no check printing happening at the client side and the payments are just recorded, then you can just:
1. Go to Payment Format Screen
2. Query the payment format that you have attached with the payable document in bank setup.
3. To your right hand side you can see the currency option where Single currency is enabled and provided.
4. Change that to multiple currency.
Now you will be able to to a multipple currency payment with same payment format. However logically, if the check printing option is there, then this process should not be followed rather cannot be followed.
But Saytara, please also check the invoice currency and payment currency setup for the suppplier if it has any validation.
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Kannan,
Please note that I have mentioned in a line that this process cannot be followed. If need be this can be achieved was what my point. If you have banking account in multiple currency you can make payment in any of its currency irrespective of your functional currency.
Your accounting and reporting is what done in functional currency.
Will you say that if I have a US currency account with Citibank for example where my functional currency is INR and my supplier is from US, why should I make a loss in exchange when I have US currency account.
I hope this clarifies you. However, Sivakumar is my senior and he has given a note from metalink which will be final for this issue I think.
Have fun.
Please note that I have mentioned in a line that this process cannot be followed. If need be this can be achieved was what my point. If you have banking account in multiple currency you can make payment in any of its currency irrespective of your functional currency.
Your accounting and reporting is what done in functional currency.
Will you say that if I have a US currency account with Citibank for example where my functional currency is INR and my supplier is from US, why should I make a loss in exchange when I have US currency account.
I hope this clarifies you. However, Sivakumar is my senior and he has given a note from metalink which will be final for this issue I think.
Have fun.
Dear members,
As per metalink note and your setup steps i have tested.
i raised an invoice in INR, payment method as INR in invoice( i am unable to change the payment currency at invoice form level).
while making payments i have choosen payment currency as USD but i havenot seen any invoice number for applying payment for that payble document and supplier.
so as per my testing i am unable to make a payment in foreign currency.
If any suggestions let me know.
regards
Anjani Kumar
As per metalink note and your setup steps i have tested.
i raised an invoice in INR, payment method as INR in invoice( i am unable to change the payment currency at invoice form level).
while making payments i have choosen payment currency as USD but i havenot seen any invoice number for applying payment for that payble document and supplier.
so as per my testing i am unable to make a payment in foreign currency.
If any suggestions let me know.
regards
Anjani Kumar
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