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foreign currency invoice [message #265028] Wed, 05 September 2007 05:09 Go to next message
tsm.apps
Messages: 22
Registered: August 2007
Location: Bangalore
Junior Member
hi,

This is mahesh, i am having one invoice with USD currency and i do the payment in GBP is it possible,but functional curreny(SOB currency) is INR only. IF its possible could u provide the necessery setups for this.

Tax group is available in Accounts Receivables?

thanks
Mahesh

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Re: foreign currency invoice [message #265157 is a reply to message #265028] Wed, 05 September 2007 10:01 Go to previous messageGo to next message
David.K.Dickson
Messages: 413
Registered: October 2005
Location: Surrey, England
Senior Member
In R11i, Payables will only make a Payment for you in the currency that you specify as the Invoice Currency when you enter the Invoice. Thus if the Invoice is in USD and you enter it in Payables as USD, then Oracle Payables can only generate a Payment in USD. I believe that you can manually raise a Payment in another currency, say GBP, then match the manual Payment to the Invoice. This is quite independent of your choice of Functional Currency, and Oracle Payables will automatically convert the Invoice amount and the Payment amount into your Functional Currency.

It is my understanding that there was a plan to include the facility in R12 to allow you to specify different currencies for the Invoice and the Payment, but I don't know if this has been implemented.

For more information, including the setup steps required, refer to the appropriate version of the Oracle Payables User Guide which can be downloaded from http://www.oracle.com/technology/documentation/applications.html

Cool HTH

David

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Re: foreign currency invoice [message #265551 is a reply to message #265157] Thu, 06 September 2007 11:29 Go to previous message
tsm.apps
Messages: 22
Registered: August 2007
Location: Bangalore
Junior Member
hi David,

Thank you for your solution.Here i found the following solution Let me know whether it it right or not.

PAYMENT CURRENCY MUST EQUAL INVOICE CURRENCY.

If the invoice curreny is USD then we can't make the payment in GBP.

Thanks
Mahesh

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