Understanding Multicurrency Payments

You can process payments in a domestic, foreign, or alternate currency. Specifically, you can process a payment in any currency and apply it to vouchers in any currency if the company base currency on the payment is the same as the domestic currency of the voucher.

For example, assume the company base currency is Canadian dollars (CAD) and you want to issue a payment in CAD. The domestic currency of the vouchers to which you want to apply the payment is U.S. dollars (USD). The company base currency of the payment (CAD) is different from the domestic currency of the vouchers (USD); therefore, the system does not accept the payment entry.

Review the currencies of the following vouchers:

• Voucher number 224

  Domestic currency for voucher: USD

  Foreign currency for voucher: USD

• Voucher number 226

  Domestic currency for voucher: USD

  Foreign currency for voucher: CAD

In this example:

• You cannot issue a CAD payment to pay the domestic amount of voucher 224 (USD).

• You cannot issue a CAD payment to pay the foreign amount of voucher 226 (CAD).

  In both cases, the company base currency on the payment (USD) is different from the domestic currency of the vouchers.

To complete the payment entry, you must change the company number on the payment to a company with a base currency of USD.

Review these examples to understand how the system determines whether a payment is a domestic, foreign, or an alternate currency payment. For the examples, the company base currency on the payment is the same as the domestic currency of the vouchers.