Cross Currency Payment in Oracle Fusion Financials Payment Work Bench

Cross Currency Payment in Oracle Fusion Financials Payment Work Bench

In Oracle Fusion cross-currency payment option available in the previous version (Oracle Apps R12 And 11i ) this option is not available. It is one of the new future in Fusion Account Payables. What Is Cross money Pay mode?

System allowed pay Bills in any currency, irrespective of the cash on the Bill. For example, Bills Created In INR If you want to pay USD system will allow making the payment while Creation Of Bills, you can manually select the payable currency, irrespective of the invoice credit. While Making refund creation, based on exchange rates converts the Bill amount to the refund amount. Key Benefits of this option Manage your cross-border transactions effectively. Comply with legal regulations and make payments in the prescribed money mandated by the country authorities for the resident supplier. Save costs by making premium in the most stable cash and avoiding losses due to currency rate fluctuations. Setups: If you want to default on paying credit for BU Or Supplier If you want to be set Business Unit Base Go Bill Options select Invoice currency and paying money If You want to set Supplier Base Go To supplier site level go to Bill tab and set your Bill amount The cross-credit payment feature is supported for prepayment type invoices also. A pre reward type Bills can also be created as a cross-cash invoice that is, the invoice benefit is different from the refund benefit. The pre refund application is feature is enhanced to support cross-cash transactions. You can apply the pre-refund to a Bills provided the invoice cash of the invoice and the Bills cash of the prepayment are one and the same. Conversion Rates In addition to cross-benefit rates, other conversion rates can apply when Bills and rewards have different cash. Following is the list of conversion rates: Invoice conversion rate: Converts the benefit to the ledger money Cross-cash conversion rate: Converts the benefit to the money refund conversion rate: Converts the cash to the ledger money How Cross-money refunds Are Accounted You can account for cross-money refunds individually or through the Create Accounting process. The accounting entries for the cash relieve the liability account in the adaptable money with an offset to the cash or cash clearing account in the payable fund. Example This table shows the process and payment mode accounting entries for a Bill with the following currency information:

Invoice amount and money: 100 GBP Payment money: EUR Ledger money: USD

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