Receiving from customer in different currency

[Former Member]

Hello Gurus, My client company code currency is USD. (which is a 3 decimal currency) and document currency is CAD (Canadian Dollar) . Customer is billed in GBP (Great Britain Pounds) and paid in CAD. Account currency for CAD bank account is CAD. I tried changing account currency for bank account to Company Code currency. If I do that, the system will allow me to process the receipt but the currency is USD. and not the GBP. apart from that, the document will be posted in company code currency (i.e. USD.) That means, the customer account will not be posted in GBP. How do I receive GBP equivalent CAD in CAD bank account within the existing set-up in ECC 6.0? I could not find a similar situation on SCN. Please pardon me if it is already resolved and let me know the thread of the solution. Any suggestion is highly appreciated. Thank you, Pravin

[former_member198650 · Accepted solution]

Hi Pravin,

First maintain translation ratio for GBP to CAD in OBBS. Later define exchange rates for the currencies in OB08. When you maintain these, when you do customer receipt the system will post it in CAD with equivalent to GBP.

Regards,

Mukthar

[Former Member]

Thank you Mukthar for your suggestion. Exchange rates are already maintained. I will maintain the GBP to CAD ratio and try. Thanks again, Pravin

[Former Member]

Hi Mukhtar, I maintained translation ratio of GBP and CAD. I used GBP currency to post "incoming payment" in F-28. However, when I simulated the transaction, I realized that the document will be posted in our Canadian bank account in USD as USD is our company code currency (but not in CAD which we actually received). Any suggestion on resolving this situation? Thank you, Pravin

[former_member198650]

Hi Pravin,

In which currency have you received incoming payment? If it is in CAD,then in F-28 change the currency as CAD and maintain exchange rate besides it. Then post the document.

Regards,

Mukthar

[Former Member]

Hi Mukthar, I received in CAD. If I post it choosing CAD currency, I am able to post it against the customer. However,  as the customer account is maintained in GBP, it is now showing GBP Debit 54635 and USD Credit 102437. As the company code currency is USD, the transaction is posted to customer account in USD. How can I clear the customer account? Thank you for help. Pravin

[former_member198650]

Hi Pravin,

Chose any one of the currency i.e. USD or GBP as clearing currency in F-32 and clear the line items. Here system will generate exchange rate gain/loss for the items.

Regards,

Mukthar

[former_member186576]

Hello Muktar,

In Praveen’s case customer invoice is in one currency and the payment in another currency.

Edit FSG of recon account and Posting key and make the payment currency optional.

Then edit the customer invoice and make the payment currency as whichever currency Praveen received.

Then clearing happen automatically? What do you think ?

[former_member198650]

Hi Sam,

You cannot change the payment currency once document has posted? Have you tried to change it?

Regards,

Mukthar

[former_member186576]

Hi  Mukthar,

Yes, we have done it on Vendor side. After vendor invoice posted, edited (recon and pkey) FSG, made the payment currency optional, edit invoice,input payment currency data and made manual as well as app payment. So my guess is that, if possible with vendor, it might be possible on customer side as well.

Regards,

Sam

[former_member198650]

Hi Sam,

Even if you change the currency, it does not impact on it. System will convert the invoice amount in that currency as per exchange rate maintained on that date.

Regards,

Mukthar

[former_member186576]

Invoice Booked for USD but payment want INR through F110, Cheque printing.

Christoph Gilberg Mar 26, 2015 8:27 PM (in response to Sam P)

Hi Sam,

you have to add this information at the time of invoice entry. Screenshot from F-43 below.

Best Regards,

Christoph

[Former Member]

Hi Mukthar,

I cleared in company code currency and it did book exchange gain. There is no problem as far as the customer account shows zero for USD but the account still shows debit GBP (for billing) and credit CAD (receipt).

Though document currency does not matter for overall financial statements, the account still needs to be cleared.

How can I do so?

Thank you for your help.

Pravin

[Former Member]

Hi Sam,

I changed the FSG of Recon account and posting key to make "Payment Currency" field optional. However, when I tried to post an incoming wire in transaction code F-28, I see only one field to input currency which I always use. I don't see any field "Payment Currency" as shown in your screenshot (I understand you are using a different transaction code).

I tried to edit the posted billing document after changes in FSG to make Payment Currency optional but can't see that field nor can I change the posted billing document.

Looks like I missed something.

Thank you,

Pravin

[former_member198650]

Hi Pravin,

Have you said above you cleared documents, it has been posted exchange rate gain? Now the documents are cleared. Have you checked the balance in FBL5N? No need to clear the document currency balance.

Regards,

Mukthar

[Former Member]

Hi Mukthar,

As customer account shows no balance in company code currency, there is nothing to clear. I was just trying to ensure that the balance in that account in transaction currency is also cleared.

Thank you,

Pravin

[former_member186576]

Pravin,

So your issue is resolved. correct ?

[former_member186576]

Hi Pravin,

Mukthar deserves the credit for solving your issue. However next time,to clear with different currencies, use f-32 and in the currency field, input the currency through which you want to do the clearing. Hope it helps.

Regards,

Sam

[Former Member]

Yes, it is.

How do I award points?

-Pravin