Currency Payables Options (Oracle Payables Help)


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Currency Payables Options

Use Multiple Currencies. Enable this option if you want to enter and pay invoices in a currency different from your functional currency. Payables also allows you to define a multiple currency payment format and bank account if you enable this option.

If you update this Payables option from enabled to disabled, Payables checks and warns you if you have any multiple currency bank accounts that are using multiple currency payment formats. You must inactivate the payment documents that use multiple currency payment formats and change the Multiple Currency field value on multiple currency bank accounts to disabled before you can change this Payables option from enabled to disabled.

Require Exchange Rate Entry. Enable to require entry of an exchange rate whenever you enter an invoice or a payment in a currency other than your functional currency. If you maintain daily rates in the Daily Rates window, Payables defaults the rate automatically, based on the date and the Rate type you enter. Payables always requires you to enter an exchange rate when you use the User exchange rate type, even if you do not enable this option.

You cannot post or pay foreign currency invoices without exchange rates. After you have entered invoices or created payments, you can enter exchange rates, either manually, or by using the AutoRate program.

Exchange Rate Type. Payables uses this default rate type when you enter invoices or create payments.

User. Used to manually enter your own exchange rate during invoice entry or at payment time.

Spot. A daily exchange rate which is a quoted market rate. When you specify a Spot rate type, Payables automatically enters the invoice Exchange Rate from the GL Daily Rates table.

Corporate. A standard market rate determined by senior management for use throughout your organization. When you specify a Corporate rate type, Payables automatically enters the invoice Exchange Rate from the GL Daily Rates table.

User-defined. An exchange rate type you define in the Define Daily Conversion Rate Types window. You can define as many exchange rate types as you need. When you specify a User-defined rate type, Payables automatically enters the invoice exchange rate for you from the GL Daily Rates table.

Gain/Loss Accounts. Payables uses this account as the default realized gain account for payments from each of your bank accounts. When you pay a foreign currency invoice, if the exchange rate changes between invoice entry and payment, Payables automatically calculates the realized gain or loss and records it in this account. If you reconcile your payments, Payables also records a realized gain or loss if there is a difference in the exchange rate between the payment date and reconciliation date.

Rounding Account. Payables uses this account when you use multiple currencies and the payment currency does not round within the payment currency precision. For example, if a payment rounds to 100.001 UKS, the payment will be for 100.00 UKS, and the rounding error of .001 will be recorded in this account.

Currency Payables Options

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