Foreign currency Payment using foreign currency ba

[thinktank]

Hi,
We have the following requirement:

Functional currency : GBP
Bank Account :USD
Need to make payments in CAD

Since the bank account is not in functional currency we are unable to make that multi currency payment enabled. Users do not want to create a functional currency bank account.

Now how to overcome this situation ?

[lakhan_mbatm]

Hi,

For paymnet in any currency we need to create bank account in that particular currency.

That means if you want make the payment in INR you need to create the account in INR for payment.

With out account we will not find out the account number while we paying in the respective currecny in the payment work bench.

Make sure that the following optons are unbled

1. bank account level the multiple currency payments are unables
2. At Payables options level in the currency region the multiple currency check box is unables.

If any other process is ther please forward to me on lakhan_rlakhan@yahoo.com. Thanking you.

[thinktank]

Hi,

We need to pay a foreign currency payment using a foreign currency bank account .

System will not allow us to enable multiple currency if the account is not the same as functional currency.

Any thoughts ?

[ramesh.nalem]

Hi Lakhan,

The Funtional currency and bank account should be same while making a payment in Foreign currency Transations.

See the below definations from Oracle standard documents.

<b>1.De#61441;ning Multiple Currency Bank Accounts</b>

A multiple currency bank account is an account that accepts payments in more than one currency.
If you define a multiple currency bank account for payments, the currency of the bank account must be the same as your functional currency."

<b>2. Payment Formats </b>

" When you define a bank account, you can only allow payment of multiple currency invoices if the bank account currency is your functional currency."

These 2 states that you can pay suppliers in foreign currency only if the bank acct currency through which you are paying is same as functional currency. But bank account currency is different from functional currency.

[thinktank]

Ramesh is right, that is why this thread has been started to seek if any of the others have come across this scenario and how they addressed it.

[debarchan.ghosh]

hi1
think tank

now you able to pay invoice booked in GBP and paid by USD

[thinktank]

No.. Not in the system yet