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AP: Cross Currency Payments Configuration & Process

 

Cross Currency Payments Configuration & Process             
Business Scenerio             
We have to create the invoice in CAD and process the payment in INR             
              
Setups             
1. Define Daily Rates (CAD - INR)  TaskManage Daily Rates         
2. Enable the check box " Multi currency Account" at Bank Account Level.  TaskManage Bank Accounts         
              
Process             
1. Create Invoice in CAD             
2. Process Payment in INR             
              
Setups             
1. Define Daily Rates             
Task: Manage Daily Rates             
*Here check whether the rates are available or not in the system             
              
              
              
              
              
              
              
              
              
              
              
              
              
              
2. Enable the check box " Multi currency Account" at Bank Account Level.             
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
Process             
1. Create Invoice in CAD             
2. Process Payment in INR             
              
1. Create Invoice in CAD             
Path: Payables >> Invoices >> Taskpane >> Create Invoice             
Note: Here at the time of invoice creation only we have to select the payment currency with which we have to pay the invoice             
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
2. Process Payment in INR             
Path: Payables >> Payments >> Taskpane >> Create Payment             
              
              
              
              
              
              
              
              
              
              
              
              
              
              
              
             

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