Automatic Reconciliation of foreign payment through local currency

[Former Member]

Hi Experts,

I am currently configuring EBS for MT940 statement. I have done the config and automatic reconciliation is happening when I upload the MT940 statement for local currency.

Foreign payments and local payments are made from the same Bank accounts. When I receive the MT940 statement from the bank they provide the amount which is debited in local currency for foreign payment.

For eg. Yesterday I have made a payments in USD currency for a vendor say - amount 10 USD, as per yesterday the exchange rate for 1 USD = 66 INR.

The amount posted in local currency is 660 INR

              The bank has debited the amount from the account today and the exchange rate for today is 1USD = 65 INR. There is an difference in ex. rate of 1 INR. The bank will be sending the MT940 statement in local currency even thought the payment is made in foreign currency. The bank send the statement that the amount debited is 650 INR. Here automatic reconciliation is not happening as the amount is mismatching. How will I post this amount is there anu configuration needs to be set up. Kindly advice?

[Former Member]

Hi Srinivas,

Thanks for the response, I have attached the content in tag 61 and 86 for your reference.

:61:1605040504D4266,04NTRF1500004250//OUTGOING TRANSFE

:86:BANK TO BANK TRANSFER

:61:1605040504D4,27NTRF1500004249//OUTGOING TRANSFE

:86:BANK TO BANK TRANSFER

For above both transaction are paid to vendor by Wire Transfer in EUR currency and we have received the MT940 statement from the bank in local currency (SAR)

Ex. rate for 1 Euro currency 4.26604 SAR

Thanks

Binoy

[Tiger_007]

Hi

just to check with you whether bank providing any payment notes for USD amount and exchange rate used to pay ?

is it possible to show sap tag 61 or 86 for the above case ?

Regards

Srinivas