Foreign currency Payment using foreign currency bank account

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 ?

Hi, I am referring to paying foreign currency (ap payments) using non functional currency bank accounts. Are you referring to payment or receipts in foreign currency ?
Please refer the in 11i ap guide
1. pg 2-104
"Dening Multiple Currency Bank Accounts
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."
2. Payment Formats pg 2-140
" 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 my bank account currency is different from functional currency.
Since you say you are doing , I am quite interested to find out more.Can you please let me know your currency setups on the bank and payment format.
Thanks

Similar Messages

  • Clearing foreign currency payments against local currency bank account

    Hi all
    We have foreign currency invoices (eg in USD, EUR) and would like to pay these from a AUD domestic bank account. Is this common practice or does the client need to enter such invoices in their external bank specific terminal to process such payments if they have a domestic currency bank account.
    How does the Electronic bank Statement (which is in AUD) clear these foreign currency invoices (EFT clearing account or suspense account). I presume we would have to post to a suspense account clearing and then do a manual post with clearing after loading the bank statement.  However, the amounts do not balance to zero as i cannot clear items off as they are in different document currencies as noted below.
    INVOICE
    cr vendor  100USD   200AUD - cleared by payment program
    dr expense 100USD   200AUD
    PAYMENT PROGRAM
    cr Sus clg 100USD   210AUD
    dr vendor  100USD   200AUD - Cleared by payment program
    dr FX g/l    0USD    10AUD
    ELECT. BANK STATEMENT
    dr Sus clg 205AUD
    cr Cash    205AUD
    What would be the standard approach for such postings from an SAP bank accounting functionality point of view.
    Is there a better way of design the above payment process.

    Hi,
    this is a hard task.
    You have to play with the GL account master data. See documentation for field "Only balances in local crcy". It is quite good described for the clearing in foreign currencies.
    Also I have some doubts that there were settings in FI for foreign currencies clearing, but I have never customize it.
    Hope I helped you (if so... points reward would be highly appreciated )
    Regards,
    Alex

  • Foreign currency revaluation using  customer or vendor accounts

    Dear friends,
    I am new to the forum and I wonder whether there is a foreign currency revaluation procedure (besides SAPF100) which can generate revaluation postings using customer or vendor accounts directly, instead of G/L accounts.
    Supposedly for example, we had a customer Denmark National  Bank, with id  400006A, and this account had a  debit  balance of  10000,00 EUR – local currency, which would be 750000,00 DKK – foreign currency (if for instance, the original rate was  7,50 DKK / EUR).
    At the time I run FC valuation for customer 400006A, the currency rate could be for example 8,00 DKK/EUR.
    Thus, the new LC amount that arises after valuation : 9375,00 EUR (which is 75000,00 DKK / 8,00).
    In this way, I would have an amount loss of: 10000,00 – 9375,00 = 625,00 EUR. 
    Then, if we were to apply such customer valuation based on business area, we could probably have the following posting:
    PKey   Bus. Area Account  FC amount (DKK) LC amount (EUR)
    17       0017    400006A  75000,00       10000,00
    04       0017    400006A  75000,00        9375,00
    40       0017 6910000000      0,00         625,00 
    In this way, customer 400006A is credited with an amount of 10000,00 EUR and balances out.
    A new balance of 9375,00 EUR is created after valuation, and an amount  loss of  625,00 is posted to G/L Main Loss Account 6910000000 (or to a G/L profit account in case of  an amount gain).
    Program SAPF100 works in a slightly different way, in the sense that it posts valuation differences in G/L accounts rather than to customer or vendor accounts directly in the way that was described above.
    Any ideas or suggestions would be appreciated.

    Hi Orestis,
    I imagine this is correct, because for the vendors/customers, we have the reconciliation account. In the reconciliation account, we should record only the open and closed items (I can't see any process that would record foreign currency valuation differences in the reconciliation account).
    Regards,
    Daniel Carvalho.

  • Report for payment runs with multiple bank accounts

    Hi everyone,
    I'm looking for a report that displays the results of a payment run(or payment runs) & throws in some payables and cash information as well.  The report should include the following information:
    Supplier | Source document ID | Invoice ID | External Reference ID | Payment Run ID | Payment ID | 'Supplier Bank Account' that the payment was paid to | Payment Status (or potentially invoice status) | Payment Method
    I've tried combining several data sources but can't seem to find the correct sources to join in order to get all these fields...Any help would be appreciated.
    thanks,
    -Ben

    When you enter bank details in master, update field "Partner bank type" LFBK-BVTYP with free form value, may be currency is good choice.
    During invoice entry, this field is available for update, update which bank to be used for payment of this invoice. You may build logic to populate this field, like substitution to populate currency in this field during invoice posting.
    During payment, system checks value in field Partner bank type in invoice and selects corresponding bank.
    Hope this helps.

  • Getting A Payment Without Paypal Cards/ Bank Accounts

    So really I thought getting money was cut and dry :I is there a way i can get the money I've been sent without having to get a bank account or card? I really just need it for my balance and then I'm done

    If your a Canadian why not switch to CA Currency no conversion anywhere on that.. Paypal fees I find are very fair not to mention ebay fees are as well ... Look at what they offer your fees .. Paypal a Safe way to buy and sell almost anywhere now .. You can pay straight from bank or credit card and a pre paid card if I am not mistaken ... As a buyer they protect your money .. If you send email money transfer through your bank account and you get ripped off the bank that you pay fees to every month and for everytime you use your debit card etc etc they don't protect you at all ... Ebay which I know is of topic but for the 9-10% fees you are being exposed to customers that would never even know you existed in other words ebay is doing for you what a website and 10k inn google adwords couldn't do ... Also it makes it very issue to build a customer base in case you do want to open a site...  All fees here and there are fair you just have to adjust the best you can to minimize the hurt   Maybe switching to Canadian currency will do that for you .. Strong US dollars means Americans see the Canadian dollar as an instant Sale prices ... As a Canadian buyer I personally want a quick grab and go purchases and conversion rates are not part of the grab and go but many buyers do not think like me so this is just my opinion 

  • R12 iPayment/Payments routing to multiple bank accounts

    Hi All,
    Can I create a single credit card sales order and capture funds from two different bank accounts.
    for example, I have a credit card sales order for $100, I want to capture funds as below
    BANK A - $50
    BANK B - $50
    How do I do that.
    Thanks for your help.

    Hi Rajendra,
    sorry, I probably didn't specify my question enough. I didn't mean multiple House banks (bank through which we process our payments), but multiple bank accounts for one vendor account we can pay to.
    The only way how we can manually pick up the right bank account to pay to, is during the invoice posting by selection of partner bank type (field BVTYP). BVTYP needs to be assigned in vendor master to each bank account. Then there is a possibility to choose.
    Vendor XX should receive payments from customer in Germany (company code 01) to a different bank account than from customer in China (compnay code 02). If no partner bank type is selected during vendor invoice entry, there is a risk to pay to a wrong account as the first bank account from vendor master is choosen automatically.
    Thank you very much.
    Kind regards
    Marcela

  • Can i use two internet bank accounts on my ipad

    Can i use two internet bank acounts on my ipad

    I use several bank accounts on my iPad. If there are apps for your particular banks it makes to pretty easy to do. It just depends on what you want to do and if the apps will do what you want them to do.
    If you strictly using a browser, as long as the banks have a mobile site, you should be fine.

  • Payment not showing on bank account but paid?

    Hi all, I'm new to PayPal so I'm hoping someone can help me. I purchased a few items 4 days ago and got the confirmation email of a successful payment. One item has already been shipped. However, the money has not come out of my account and there is no record of the transaction on my bank statement. I do not have a negative PayPal balance and shows that the items are "successful" or confirms or whatever it says. Any idea what's going on?

    Yep   When you pay someone it is never instant > paypal CREDIT that person for you (so you get your item more quickly) and then paypal take the wait for your funds to transfer to your paypal account from your bank account to pay them back. The funds can leave your bank account anytime from 2 hours - 3 days later. I paid someone 2 days ago via friends / family > they got the money but its not left my bank account....yet.    ************************************* I give up my time to help you so a thank you or kudos would be cool.
    Marking one of my replies as a solution would be appreciated if I sorted your problem.

  • How to clear cumulative local currency balance of foreign currency Bank a/c

    Hi,
    We are facing a problem with the foreign currency Bank account from which we make payment in foreign currency but when we see the balance in local currency there is a difference.
    e.g Local Currency RMB Bank Account Currency USD
    Current Balance in Bank Account 1000 USD RMB rate 0.275 Balance in Local currency 275
    We make a payment of 1000 USD at that time rate is 0.270 Payment in local currency i.e. 270
    When we display of GL Balance of Bank account it is showing 0 balance but balance in RMB still showing 5 KWD which is not correct as we dont have any balance in USD. How to avoid this situation.
    Regards,
    Nirmala S.

    You have to configure realized and unrealized exchange rate gain/loss accounts in transaction code OB09 for all your foreign currency balance sheet accounts.  Once this configuration is done, you have to perform foreign currency valuation (F.05 or FAGL_FC_VAL) to clear the balance in local currency and post it to unrealized exch. rate gain/loss accounts configured in OB09 above.

  • Foreign Currency Payment

    Could anyone explain this senario to me?
    One supplier in USA issued the bills in USD and we recorded the invoice in SAP in USD as well, later on we paid them off while from the outgoing module and choose the usd as currency and from my USD bank account, suppose there will be no any FC exchange loss or gain, (as we pay usd to the supplier as well)however when i see the journal entry which link to the payment PS, still there is one difference was posted to the realised FC exchanged gain or loss account.
    shouldn't it be posted to the unrealised FC exchanged gain or loss account instead of the realised one? how can i change it?

    I suggest to run exchange rate differences and disregard the conversion differences.
    The unrealized gain/loss and realized gain/loss different is exchange different gain/loss differences before and after running transactions either payment, marketing document, etc.
    For general definition:
    1. Unrealized Gain :A profit that results from holding on to an asset rather than cashing it in and using the funds.
    E.g. Let's say you own a stock that has doubled, but you haven't sold it yet. This is said to be an unrealized gain.
    2. Unrealized loss:
    A loss that results from holding onto an asset rather than cashing it in and officially taking the loss.
    E.g. Let's say you own a stock that is down 50%, but you haven't sold it to realize the loss yet. This is said to be an unrealized loss.
    The vice versa is valid for realized gain/loss.
    Rgds,

  • MHKIM:(AR)BANK ACCOUNT의 'MULTIPLE CURRENCY PAYMENTS','MULTIPLE CURRENCY

    QUESTION
    ==========
    Bank Account 조회후, 'Receivables Options' tab의 'Multiple Currency Receipts'와
    'Payables Options' tab의 'Multiple Currency Payments'를 수정시,
    수정이 되는 계좌가 있고,
    수정이 안되는 계좌가 있습니다.(FRM-40200, Field is protected against update)
    수정이 되는 경우와 안되는 경우의 차이는 무엇이며,
    수정이 안되는 경우 Menu->Help->Diagrnostics->Examin->'MULTI_CURRENCY_FLAG'와 'NBT_RECEIPT_MULTI_CURRENCY_FLA'을 창에서 수정후 저장하면 저장이 되는데, 이렇게 변경을 해도 되는 것인지요?
    ANSWER
    =========
    Oracle Payables User Guide 2 – 150 에 아래와 같은 내용이 나와 있습니다.
    Multiple Currency Payments :
    Enable this option if you want to use
    this bank account to pay invoices entered in multiple currencies. You
    can select this option only if the Use Multiple Currencies Payables
    option is enabled and if the bank account is in your functional currency.
    즉, "Use Multiple Currencies" setup이 enable되어 있고,
    해당 Bank Account의 Currency가 Functional currency 일 경우에 Enable이
    가능하다라는 내용입니다.
    다시 정리하면,
    해당 Bank Account의 Currency가 Functional Currency(예를들어, "KRW")가
    아닌 다른 나라의 Currency ("JPY")인 경우에는 해당 Multiple Currency
    Payments 기능을 사용하실 수 없습니다.

    Hi Salman,
    Have you tried this from Element Define window. There is functionality for Input and Output currency.
    Hope it could meet your requirement.
    Thanks
    AshokP

  • Does setting multi currency and fixed foreign currency make a difference ?

    Hi all,
    My customer deals in foreign currency say USD, where as local currency is INR.
    Now I want to know that what all difference SBO will make if in one scenario I set the Inventory GLs currency as Multi currency and in second scenario I set the Inventory GLs currency as USD ?
    Regards,
    Samir Gandhi

    Hi Samir,
    in essence, an account/BP that is set up as multicurrency (MC) is local currency (LC) in disguise. All transactions are held in the application in LC, the display is merely informational according to the exchange rate defined for the posting date. The reconciliation currency is LC.
    A foreign currency (FC) account/BP will only accept transactions in this FC. The LC equivalent is automatically calculated, but the reconciliation currency is FC. Exchange rate differences are used to adjust LC according to the rate at the execution date.
    If you use a particular bank account for trading with a particular foreign country, the account currency & the BP currency should be set to a single FC. If a particular bank account is used to deal with various BPs using various currencies, that account should be set up as MC, yet we would recommend you set the BP as single FC.
    There are some relevant Expert Empowerment Sessions available in the archive:
    [Exchange Rate|http://service.sap.com/~sapidb/011000358700000315572008E.zip]
    [FC & SC are the same, why don't they match?|http://service.sap.com/~sapidb/011000358700000326672008E.zip]
    Also, please have a look at the Expert on Phone Newsletter May2008:
    [How to reconcile a foreign currency only journal entry for a multi-currency Business Partner|https://wiki.sdn.sap.com/wiki/pages/viewpage.action?pageId=25494259]
    All the best,
    Kerstin

  • Paying Foreign Currency Invoice with Functional Currency

    Hi,
    Can anyone advise if I am able to pay a foreign currency invoice
    using functional currency in AP? Eg. if my functional currency
    is USD and invoice is in GBP, how can I pay in USD against the
    GBP invoice? Thank you and God bless you.

    Most versions of Oracle Financial system, allows the payment of
    Foreign Currency invoices in functional currency. If you tried
    to pay the Foreign Currency invoices in functional currency, and
    if you got error it could be due to of different reasons.
    One very common reason, is the lack of (refer currency
    conversion rate set up if you are not familiar) of a conversion
    rate in the date range of the invoice.

  • Choosing bank account records in payment proposals

    Hi Everybody,
    We have several bank accounts for each vendor in AP because for each currency we have a separate bank account.  However, in payment runs, always the first listed bank account is chosen as a default.
    I know we can enter the appropriate account details in each open line item but this is quite tedious - does anybody know if it is possible to tell the system which bank account to use for which currency at the payment proposal stage ?
    Regards,
    Iris

    hi Iris,
    as far as I know there is no way. The only way is to fill the bank key field by document posting. You can make that field mandatory so the accountant has tio fill that always. Another option is to set up a substitution exit so the system will fill it, comparing the bank keys and the currency of the document.
    hope this helps
    ec

  • Using Same Bank Account for two different company code

    Can we use the same bank account number and ABA key for two different company codes? Both the company codes are in USA and with the same currency.
    Scenario is to separate one division of the company code to a separate company code. Client wanted to know if we can use the same bank account so that they dont have to open another bank account

    The system will allow the same ABA and bank account on two different company codes.  However, if you use electronic bank statement (EBS) functionality (or plan to use it in the future), you will not be able to import bank statements for the account if it exists on two company codes.  The EBS program uses the house bank/account ID tables to assign a company code to the bank statement.  If the account exists for more than one company code, the program cannot assign a company code and it will give an error.
    Regards,
    Shannon

Maybe you are looking for