About Multicurrency Payments

If you use multicurrency accounting, all payments in a payment batch are in the currency you specify for the payment batch.

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 screen is in the functional currency.

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

The exchange 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.

Note: If you use the Rate Override screen 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 screen.

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