Understanding Multicurrency Processing for Payments

This topic discusses:

• Deposit and payment entry

• Payment worksheets

• Payment Predictor

• Draft worksheets

Payments carry both the payment amount and the converted base amount. The system handles conversion automatically based on rate types, exchange rates, and the base currency of the business unit. You can apply payments to items in different currencies. When an item is paid, the system calculates realized gain or loss and generates accounting entries to reflect the gain or loss.

The deposit and payment status pages reflect the currency of the payment. Other pages that contain payment amounts show both currencies—payment and base.