Payment Entry — Rate Override Form

When you click the Rates button on the Payment Entry form, the Rate Override form appears to let you:

• Change the exchange rate for the current payment — for example, to one which was previously agreed on for the invoice.

For an overview of payment entry, see Processing payments.

For full instructions on adding payments, see Steps for entering and applying payments.

Exchange rates are maintained in Common Services

The default bank rate for each transaction is set in the batch header. (Click the zoom button beside the Currency field to view exchange rate information for the batch). When you create the batch, the default rate for the batch comes from Common Services, and is based on the rate type and the session date.

The vendor exchange rate for payments, prepayments, or miscellaneous payments also comes from Common Services, and is based on the rate type and session date.

"Apply Document" exchange rates

If you are applying a document, you cannot change any rates, because the document you are applying has already been entered and posted with a rate.

If the batch is in the functional currency

The Check Amount you enter in the Payment Detail form is in the functional currency.

The Applied Amount or Prepayment Amount shown on the Payment Detail page is in the vendor currency.

Note that the rates are for converting the bank currency or the vendor currency to your functional currency. If either of these currencies is the functional currency, the rate for that currency will be 1.0000000.

If you use the Exchange Rates form to change the Exchange Rate, you will change the amount in the Check Amount field — which shows the amount in the vendor currency in this form.