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Former Member
May 22, 2016 at 02:23 PM

Automatic Reconciliation of foreign payment through local currency


Hi Experts,

I am currently configuring EBS for MT940 statement. I have done the config and automatic reconciliation is happening when I upload the MT940 statement for local currency.

Foreign payments and local payments are made from the same Bank accounts. When I receive the MT940 statement from the bank they provide the amount which is debited in local currency for foreign payment.

For eg. Yesterday I have made a payments in USD currency for a vendor say - amount 10 USD, as per yesterday the exchange rate for 1 USD = 66 INR.

The amount posted in local currency is 660 INR

The bank has debited the amount from the account today and the exchange rate for today is 1USD = 65 INR. There is an difference in ex. rate of 1 INR. The bank will be sending the MT940 statement in local currency even thought the payment is made in foreign currency. The bank send the statement that the amount debited is 650 INR. Here automatic reconciliation is not happening as the amount is mismatching. How will I post this amount is there anu configuration needs to be set up. Kindly advice?