Multi-currency Payments

Exploring

ClosedWhere it fits in?

The multi-currency payment facility lets you manage funds across various currencies and countries. It reduces the risk of errors arising from manual payment calculations across currencies and provides a complete audit trail of the transaction.

Within Accounts Payable, this lets you make payments to suppliers in a third currency (i.e. a currency that differs from the supplier's currency or the company's currency). SYSPRO converts the payment currency to the company currency and then to the supplier currency.

Within Accounts Receivable, this lets you receive payments from debtors in a third currency (i.e. one that differs from the customer's currency or the company's currency). SYSPRO converts the payment currency to the company currency.

ClosedTerminology
ClosedCurrency

A currency refers to the monetary unit in which a country processes financial transactions. It enables you to conduct business with foreign currency customers or suppliers by converting values to the local currency equivalent.

You maintain currencies using the Currencies program.

ClosedCompany currency

The company currency is the local or base currency that is used in the country and by the SYSPRO company.

All financial transactions in the SYSPRO company are written to the General Ledger in the company currency.

ClosedSupplier currency

This is the currency captured against the supplier (i.e. the supplier's local currency).

International suppliers located in a foreign country will use a foreign currency. These foreign currencies are converted using the currency exchange rate as at the date and time of the transaction.

ClosedPayment currency

In Accounts Payable, the payment currency is the currency used to pay the supplier.

In Accounts Receivable, the payment currency is the currency the customer uses to pay the company.

This currency may differ from the customer/supplier currency and company currency, in which case it is converted using the currency exchange rate as at the date and time of the transaction.

ClosedCurrency exchange rate

Currency exchange rates are used to convert foreign currency transactions (entered in the Accounts Receivable, Accounts Payable, Sales Orders and Purchase Orders modules) to your local currency equivalent. The applicable exchange rate is established by matching the currency code used in the transaction to the code defined in a currency exchange rate table.

ClosedCustomer currency

This is the currency captured against the customer (i.e. the customer's local currency).

International customers located in a foreign country will use a foreign currency. These foreign currencies are converted using the currency exchange rate as at the date and time of the transaction.

ClosedRelated Information

Topics

SYSPRO Terminology

PDF and Video Resources

Feature Guides

Starting

ClosedSecurity
ClosedActivities

You can restrict operator access to activities within a program (configured using the Operator Maintenance program).

ClosedAP Add multi-currency payment run

Controls whether an operator can use the Multi-currency payment option in the Payment Cycle Maintenance program to add a multi-currency payment run.

ClosedAP Change multi-currency exchange rate

Controls whether an operator can use the Exchange rate option in the AP Manual Check Entry program, to update an exchange rate.

ClosedAR multi-currency payments

Controls whether an operator has access to the Multi-currency field in the AR Payments and Adjustments program.

ClosedAR Payments - Change multi-currency exchange rate

Controls whether an operator has access to the Multi-currency rate field in the AR Payments and Adjustments program.

ClosedFields

You can restrict operator access to the fields within a program (configured using the Operator Maintenance program).

ClosedeSignatures

You can restrict access to the eSignature transactions within a program at operator, group, role or company level (configured using the eSignature Setup program). Electronic Signatures provide security access, transaction logging and event triggering that gives you greater control over your system changes.

ClosedAP Change multi-currency exchange rate e.net

Controls access to the Exchange rate option in the Multi-currency details section of the AP Manual Check Payments business object.

ClosedAP Change multi-currency exchange rate

Controls access to the Exchange rate option in the Multi-currency details section in the AP Manual Check Entry program.

ClosedAP Add multi-currency payments run e.net

Controls access to the Multi-currency details section in the Payment Cycle Maintenance program.

ClosedAP Add multi-currency payment run rate

Controls access to the Multi-currency details section in the Payment Cycle Maintenance program.

ClosedAR multi-currency payments

Controls access to the Multi-currency field in the AR Payments and Adjustments program.

ClosedAR multi-currency payments e.net

Controls access to the Multi-currency field in the AR Payments and Adjustments business object business object.

ClosedAR Multi Currency Payment Rate

Controls access to the Multi-currency rate field in the AR Payments and Adjustments program.

ClosedAR Multi Currency Payment Rate e.net

Controls access to the Multi-currency rate field in the AR Payments and Adjustments business object business object.

ClosedGroups

You can restrict operator access to programs by assigning them to groups and applying access control against the group (configured using the Operator Groups program).

ClosedPasswords

You can restrict operator access to functions within a program using passwords (configured using the Password Definition program). When defined, the password must be entered before you can access the function.

ClosedRestrictions and Limits

  • Alternate currency payments can only be made from a bank that uses the alternate currency, or the SYSPRO company base currency.

  • Multi-currency payments are only available for manual and void check payment types (i.e. this excludes Cash Book Online checks, System checks and EFT payments).

  • Suppliers included in a multi-currency payment run must use the same supplier currency and all are paid in the same payment currency.

  • Customer payments with alternate currencies can only be processed using the AR Payments and Adjustments program.

    This functionality is not available in the following programs/modules:

    • Cash Posting Worksheet
    • AR Payment Run
    • AR Collector Run Maintenance
    • AR Payments Import
    • Sales Order Entry (billing type: Take Payment)
    • Counter Sales
    • SYSPRO Point of Sale

    • AR Trial Balance

    • Credit Management
    • Summary Credit Management

  • Tax values are not displayed or stored in the payment currency.

  • The multi-currency fields in the AP Check and Remittance Print program are only displayed if you are using SYSPRO Reporting Services printing to print the remittance.

ClosedOther considerations
ClosedIntegration

  • If Accounts Payable is integrated to General Ledger in summary then the multi-currency fields held against the GL Journal Details table (GenJournalDetail) and GL Detail Transactions table (GenTransaction) are not populated because different payment runs can be consolidated into a single entry per ledger code (i.e. multi-currency and non-multi-currency payment runs could be consolidated).

Solving

ClosedSystem messages
ClosedYou are processing a payment from/to a customer in a currency that is not the same as the customer.

This warning message indicates that a multi-currency transaction is being processed (i.e. the customer is making a payment from their foreign currency bank account). Select OK to confirm this and proceed.

ClosedBank currency not same as customer

This warning message alerts you that the payment currency and the customer currency are not the same (typically indicating a multi-currency payment is being processed). Select OK to continue processing the multi-currency payment.

ClosedFAQs
ClosedWhy is multi-currency data not displayed on the AP Payment Register?

Although multi-currency data is not printed on the AP Payment Register Reprint report because of space constraints, the information is displayed in the XMLOUT.

If you want to print multi-currency data on the report, then you will need to customize the report to your requirements.

ClosedWhy can't I post a multi-currency payment?

The payment is not posted if the payment amount and invoice amount are not the same.

Ensure that you have entered the correct payment amount and selected the correct invoice(s).

If the difference between the amounts is due to a rounding issue, use the Recalc Amount function to resolve the rounding issue.

ClosedHow does multi-currency payments affect the posting of variances

Exchange rate variances arise when you adjust the exchange rate of a released invoice and select the Apply to outstanding invoice balance option.

The variance is typically posted to the Unrealized variance account defined in the AP Currency Variance GL Interface and AR Currency Variance GL Interface programs.

  • For multi-currency payments, the exchange rate variance is posted to the Exchange variance account defined against the supplier's bank.

    If the Accounts Payable integration level is defined for the currency or bank, then the currency against the supplier or supplier bank is used to determine the Unrealized variance account to use.

  • For non-multi-currency payments, the currency or bank of the payment run is used to determine the Unrealized variance account.

    If this is not defined, then the Exchange variance account defined against the bank of the payment run is used.

Using

ClosedTasks
ClosedHow to process multi-currency payments in AR

  1. Capture the customer payment using the AR Payments and Adjustments program.

    • Select the foreign bank account from the Bank Deposit Details pane.

    • At the Payment details section:
      • Enable the Multi-currency payment field.
      • At the Multi-currency currency field, select the currency in which the payment was made.
      • At the Multi-currency amount field, enter the payment amount.
      • The Multi-currency rate field displays the company currency - payment currency default exchange rate.
      • The Exchange rate variance field displays the default variance ledger account.
      • The Exchange rate field displays the normal customer currency - company currency exchange rate that is displayed on the invoice.
    • At the Documents to Pay pane, select the invoice(s) that will be paid with the multi-currency payment.
    • Post the payment.
  2. You can view the transaction amounts in the local and foreign currency using the Customer Query program (within the Payments pane) as well as the AR Bank Deposit Slip and Bank Query programs.
ClosedHow to process multi-currency payments in AP

  1. Once the supplier invoice has been processed, you will see the following within the AP Invoice Posting program:

    • Transaction amount in the supplier currency.
    • Exchange rate to the company currency.
    • Transaction in company currency on the GL Distribution in Local Currency pane.

  2. In the Payment Cycle Maintenance program, capture the payment of the invoice.

    • Select the foreign bank account.

      The Currency of payments field automatically displays the currency of the selected bank account, which is the payment currency.

    • At the Multi-currency details section, select the Multi-currency payment field and supplier currency.
    • Select the invoice(s) you want to pay using the AP Manual Check Entry program (you can view the amount in the supplier currency in the Payment Details section and edit the exchange rate in the Multi-currency details section).
    • Once the invoice is selected, the supplier currency and payment currency is displayed in the Invoices Released for Payment pane.
    • Execute the payment run.
    • End the payment run.
  3. Integrate the transaction to Cash Book using the AP Payments GL Integration program (if Cash Book integration is not configured to be automatic).
  4. You can view the transaction amounts in supplier currency, company currency and payment currency on the AP Payment Register Reprint report.
  5. You can see also the transaction amounts in the Bank Query program.
ClosedAffected Programs

The following indicates areas in the product that may be affected by implementing this feature:

ClosedAR Payments and Adjustments

The following fields have been added or renamed at the Payment Details pane:

  • Multi-currency payment
  • Payment currency
  • Payment amount (Payment currency)
  • Exchange rate (Payment currency)
ClosedCustomer Query

The following columns have been added at the Invoice Payments and Payment Detail list views and must be added using the Field chooser:

  • Exchange rate
  • Payment currency
  • Amount (Payment cur)
  • Exchange rate (Payment cur)
ClosedAR Invoices for Customer

The following option has been added to the Functions menu:

  • Payment Exchange Rates

    This option shows the conversion of the payment currency to the local currency.

The following columns have been added to the Customer Invoice for Customer list view and must be added using the Field chooser:

  • Payment currency
  • Amount (Payment cur)
  • Exchange rate (Payment cur)
ClosedCash Book Zoom on AR Transactions

The following columns have been added to the AR Invoice Details list view:

  • Multi-currency
  • Payment currency
  • Gross amount (Payment cur)
  • Discount amount (Payment cur)
  • Net amount (Payment cur)
  • Exchange rate (Payment cur)
ClosedAR Cash Journal Query

The field Include payment currency has been added to optionally include multi-currency payment transaction values in the report.

ClosedPayment Cycle Maintenance

The following fields have been added to the Payment Run Information pane:

  • Currency of payments
  • Multi-currency details section:
    • Multi-currency payment
    • Currency of suppliers

The following field has been added to the Payment Cycle Information pane:

  • Totals (supplier currency)

The following columns have been added or changed in the Invoices Released for Payment list view:

  • Net (supplier currency code)
  • Exchange rate (supplier currency code)
  • Net payment (payment currency code)
  • Exchange rate (payment currency code)
ClosedAP Manual Check Entry

The following fields have been added to the Payment Run Information pane:

  • Multi-currency payment run
  • Currency of payments
  • Currency of suppliers

The following fields have been added to the Payment Details pane:

  • Check amount (supplier currency)

  • Payment details section:

    • Supplier

    • Supplier name

    • Check details section:

      • Check date

      • Check number

      • Check amount (supplier currency)

      • Undistributed amount

      • Payment reference

    • Multi-currency details section:

      • Exchange rate

      • Total net (payment currency)

The following fields have been added or changed in the Invoices selected for Payment list view:

  • Net (supplier currency code)

  • Exchange rate (supplier currency code)

  • Multi-currency

  • Net (payment currency code)
  • Exchange rate (payment currency code)
ClosedExecute AP Payment Run

The following fields have been added to the Payment Run Information pane:

  • Multi-currency payment run
  • Currency of payments
  • Currency of suppliers
ClosedAP Check and Remittance Print

The following fields have been added to the Payment Run Information pane:

  • Payments currency
  • Suppliers currency

The following fields have been added to the AP Check and Remittance Summary pane:

  • Payments currency

  • Suppliers currency

  • Total net (payment currency)

ClosedAP Void Checks

The following fields have been added to the Payment Run Information pane:

  • Multi-currency
  • Currency of payments
  • Currency of suppliers

The following new columns have been added or changed on the Checks to Void list view:

  • Net (payment cur)

  • Multi-currency

  • Supplier currency

  • Net (supplier currency)

ClosedAP Browse on Payment Runs

The following fields have been added or changed in the list view:

  • Supplier currency

  • Multi-currency

  • Payment currency

ClosedAP Browse on Checks

The following fields have been added or changed in the list view:

  • Supplier currency

  • Net (supplier currency code)

  • Payment currency

  • Net (payment currency code)

ClosedAP Invoices for Payment Run

The following fields have been added or changed in the list view:

  • Net (supplier currency)

  • Exchange rate (supplier currency code)

  • Net (payment currency code)

  • Exchange rate (payment currency code)

ClosedSupplier Query

The following fields have been added or changed in the Payments list view:

  • Amount (supplier cur)

  • Ex rate (supplier cur)

  • Multi-currency

  • Payment currency

  • Amount (payment cur)

  • Ex rate (payment cur)

ClosedAP Supplier Invoices

The following function has been added to the Functions menu:

  • Payment Exchange Rates

    This option shows the conversion of the payment currency to the local currency.

The following column has been added to the list view:

  • Multi-currency
ClosedCash Book Zoom on AP Transactions

The following column has been added to the AP Invoice Details list view:

  • Supplier currency

  • Net (supplier cur)

  • Ex rate (supplier cur)

  • Multi-currency

  • Net (payment cur)

  • Ex rate (payment cur)

  • Payment currency

ClosedCash Book Deposits and Withdrawals

The following links have been added to columns in the Bank Transactions list view:

  • Link to AP Browse on Checks at the Check/EFT column.
  • Link to Cash Book Zoom on AP Transactions at the Bank equivalent column.
ClosedGL Query

The following columns have been added to the Details list view:

  • Amount (supplier cur)

  • Supplier currency

  • Multi-currency

  • Amount (payment cur)

  • Payment currency

  • Ex rate (payment cur)

The following function has been added to the context-sensitive menu of the Details list view:

  • Payment Exchange Rates

    This option shows the conversion of the payment currency to the local currency.

ClosedGL Zoom on AP Disbursement Details

The following fields have been added or changed in the list view and must be added using the Field chooser:

  • Multi-currency

  • Payment currency
  • Amount (payment cur)
  • Ex rate (payment cur)
ClosedGL Journal Entry

The following fields have been added or changed in the Journal Details list view:

  • Multi-currency
  • Amount (payment cur)
  • Payment currency
  • Ex rate (payment cur)
ClosedHints and Tips

  • Columns in a list view are sometimes hidden by default. You can reinstate them using the Field Chooser option from the context-sensitive menu (displayed by right-clicking a header column header in the list view). Select and drag the required column to a position in the list view header.

  • Fields on a pane are sometimes removed by default. You can reinstate them using the Field Selector option from the context-sensitive menu (displayed by right-clicking any field in the pane). Select and drag the required fields onto the pane.

    The captions for fields are also sometimes hidden. You can select the Show Captions option from the context-sensitive menu to see a list of them. Click on the relevant caption to reinstate it to the form.

    If the Show Captions option is grayed out, it means no captions are hidden for that form.