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Former Member
Nov 09, 2009 at 11:36 AM

Payment instruction in currency other than Bank Account currency

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Dear All,

Please help me in following case:

Facts: The baank account is the USD account. Payment instruction is to go in EUR. Bank will convert the EUR in USD and debit my account in USD. The bank account will get a credit in my books in EUR (if at all I maintain GL currency being USD, the transaction will be recorded at the exchange rate which is used for accounting, whereas the bank will convert EUR to USD at the byuing rate of EUR).

Question: How system, while automatic BRS, knock off these entries?

Thanks in advance.

Amish Shah.