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author's profile photo Former Member
Former Member

multi currency

A client has a vendor, to whom the client has to make payment in 5 different currencies. Whether the client will be able to post an entry with 5 different currencies? IF yes or No, I would like to know then how this type of transaction will occur?

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  • author's profile photo Former Member
    Former Member
    Posted on Jan 16, 2007 at 10:15 PM

    Hi,

    You will not likely to have a vendor who will receive payments in 5 different currencies.

    In case you have a scenario , you will have to create 5 bank accounts having 5 gl accounts in different currencies and use that particular account when making a payment.

    Hope it helps.

    Praveen

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    • Former Member

      hello,

      at the time of making payment entry in the system you can enter different foriegn currencies, based on exchange rates system will convert the local currency and post the entries, for this you bank should allow to make the payment in diff. currencies to vendor. you have to maintain exhcnage rates also in the system. it is not require to maintain more GL or Bank accounts.

      if the answer helpful please reward me.

  • author's profile photo Former Member
    Former Member
    Posted on Jan 17, 2007 at 10:20 AM

    Hi Divya,

    The approach you are going to use depend on what you have within your organisation.

    1. If your company have Bank Accounts in all the payment currencies already, then these would have been set-up in transaction code <b>FI12</b>. Therefore, you just select each bank with the currency when carrying out payment run using transaction code <b>F110</b>.

    2. However, if your organisation do not have Bank Accounts in all the affected currencies, you can still pay your Vendors in any currency you want. The determinant here is the Transaction Currency when the invoice is being booked onto the Vendor Accounts. Make sure this is in the currency in which the Vendor is to be paid. You also have to ensure that your exchange rate table is up-to-date. Use transaction code <b>OB08</b> to update the table.

    I hope the above helps.

    Do not forget to award the points please.

    Regards,

    Jacob

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