Exchange rate on Incoming Payment
Dear Experts,
Can anyone assist with this issue?
I have created an invoice in a foreign currency (USD) with a rate of 1.485.
At the time of creating the incoming payment, the system rate had changed to 1.48. I therefore decided to change it to 1.485 after selecting the invoice to be paid so as to avoid exchange gain or loss on receipt of this transaction. This however resuledt in an error - 'No GL Account found'
Please help!
Regards
John
Hi,
Have you check what is the decimal settings for the rates under the Adminstration > System Initialization > General Setting > Display tab ?
Also, please check whether the Rounding account is defined in the G\L Determination window.
Kind Regards,
Jitin
SAP Business One Forum Team
Similar Messages
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Different LC amount for same exchange rate at Incoming & Outgoing payment
Hi
I have created an incoming and outgoing payment separately. One of the amount is the same between Incoming and Outgoing payment with same currency and same exchange rate, but system generated LC amount with a rounding difference of SGD 0.01. Example, in incoming payment, the double entry is:
Dr AP/AR Contra account USD $ 294,318.00 __*SGD $ 442,065.64*__
Cr Customer USD $ 294,318.00 SGD $ 440,289.64
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I don't really get what you mean. I have tried on my own database and it doesn't happen even though patch level, decimal places and document settings are the same. But it just happen on customer database with exactly the same transactions. So not sure how SAP calculate the amount. Thanks.
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Hi Experts,
Scenario:
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I created a Invoice with a Foreign currency and the exchange rate is 1.50. When I goto the Incoming Payment to pay the Invoice the document appears with the foreign currency and the exchange rate as at that date is displayed.
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Is there a way to set the exchange rate set by payment program same as in the invoice, i.e. Exchange rate(Payment document posted by Payment program) = Exchange rate of the Invoice document?
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enabling partial reconciliation is one of the major enhancements in version 2007 A & B. It works in all localisations.
You will find a lot of info on the 2007 landing page here:
Channel Partner Portal -> Solutions -> SAP Business One -> Hot Topics -> 2007 Landing Page
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Dear Experts,
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I have a USD invoice that I will like to pay off with an incoming payment, But i will like to pay it off with SGD.
The date is 1/1/2010 and the USD exchange rate is 1.5 for this day. However I will like to key this payment with a USD exchange rate of 1.3.
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Hey Gurus,
When i run the payment program to pay my foreign vendor in foreign currency the system does not calculate the exchange difference at the point of the payment program.
Example.
invoice on 9/11 for 4267.50AUD the rate 1.2154 =3511.19usd run the payment program on 9/17 the rate is 1.18840. it pays out 3511.9 instead of 3590.96usd. The difference between the 3511.19 and 3590.96 would be the exchange loss or gain.
What is missing, or how should the system do it.
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Please
Thank youThank you for your quick response!!
What if i don't know the banks rate at the time of the payment program, which is what the case is going to be.
I guess my question is does the payment program calculate the exchange gain or loss when clearing the invoice , if so what settings make it do that?
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Please help this is urgent.
Thank you -
Exchange rate calculation in case of partial payment.
Dear All,
I have a case in which I need to calculate Exchange rate fluctuation on partial payment.
Example
Exchange Rate
01.04.2011 1USD = 40 INR
10.04.2011 1USD = 45 INR
01.05.2011 1USD = 50 INR
31.05.2011 1USD = 55 INR
Invoice Date = 01.04.2011 (1USD = 40 INR)
Purchase Ac Dr 100 USD
To Vendor 100 USD
Partial Payment on 10.04.2011 of 20 USD
(10.04.2011 1USD = 45 INR )
Vendor Ac Dr 20 USD
To Bank Cr 20 USD
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(10.04.2011 1USD = 50 INR )
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To Bank Cr 60 USD
On 31.05.2011 (Month end Revaluation FAGL_FG_VAL)
(31.05.2011 1USD = 55 INR )
If we do the valuation you will find that system create Fluctuation on the basis of Rate maintain on 31.05.2011 .i.e 1 USD = 55 INR.
Ideally system should generate fluctuation at the time of partial payment only so in that case fluctuation will be less. And this is as per accounting standard also.
( I know partial payment is open item and system will not calculate exchange fluctuation in that case. But then this will be wrong practice.)
(If I go for residual payment in that case system will clear full invoice amount then and there and create exchange rate fluctuation of full amount which is also wrong).
Kindly Suggest
BittuThanks Atif.
It mean that we have to show excess loss in our report, which is not actual.
SAP might be having some solution on this Issue as we cant show wrong B/S.
This is not a correct practice , hope you agree with me.
bittu -
Automatic Payment prog for Incoming payment by bills of exchange
Hi,
I would like to know, weather we can use the transaction F110 for incoming payments from customers by bills of exchange, if yes, what are the necessary configurations for the same.
thanks
VikashHi,
Good afternoon and greetings,
Please go through the following SAP OSS Notes
Note 444521 - F110: Expiring currencies and bill of exchange payable
Note 360145 - Expiring currencies: Bills of exchange
Please reward points if found useful
Thanking you
With kindest regards
Ramesh Padmanabhan -
F-53 payment clearance Exchange Rate Difference
HI
There is a exchange rate problem while clearing Purchase Order. In Freight condition P/o is Total amount in $ is 819.77 while theexchange rate is Rs/$= 86 which is ok at vendor invoice level .
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it giving problem for only one vendor.
thanks
thomasHi,
Check in po header whter exch rate fixed tick box is ticked.
Regards -
Reissue payment - with different exchange rate
hi,
Is it possible to reissue the payment,with the different exchange rate?? the reissue list box is disabled in payments screen?
pls help me...
thanks a lot n advance...any suggestion???!!! it is wire transfer...but the transfer had not completed..at this stage if end user needs to reissue payment with new exchange rate????
Edited by: prety on Aug 28, 2010 9:57 AM -
Payment Program and Spot Exchange Rate Type
Hi Everyone,
When performing wire transfers in foreign currency, my company wants to be able to have the payment program, F110, be able to convert the payment to the vendor based on the bank's spot rate at that moment in time. I found that we can use exchange rate type "G", update the rate within OB08 prior to running F110, input the exchange rate type "G" within the Parameter section within "Exchange rate type" and process the payment program as normal.
My question is this: We have a few separate companies that would use this feature with the possibility of receiving different rates from their respective banks. How would this work if 2 companies had 2 separate exchange rates for the same conversion on the same day? I found that once you enter in an exchange rate for a conversion, you are stuck with that rate for that particular day, so the amount can not be over written with another rate to be used by the second company code. Is there a way around this or is there a different way to accomplish the converting of currencies at the payment program?
Thanks.
Pete
Edited by: Peter Zaborowski on Sep 26, 2008 2:35 PMHi Peter
Use two different exchange rate type for bank1 and bank1. Upload the exchange rate into the system. Select house bank and specified rate type during the payment run.
Regards
Srinivas
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