Payments from foreign customers

Customer Cash Receipt Entry displays either a profit or a loss based on the exchange rate at the time the payment is being entered or applied. All currency amounts are displayed in the foreign currency. The Exchange Rate window is displayed based on the customer currency type. It shows the currency exchange from the AR Exchange Rate field in SA Currency Setup. The same functionality is available to update the current rate or the rate for this transaction.

Note: You must specify all currency amounts in the customer’s foreign currency.

When you specify the customer number, the Exchange Rate window is displayed if the customer record contains foreign currency. You can override the current rate for these transaction types:

0 - Invoice
1 - Service Charge
2 - Rebate
4 - COD
5 - Misc Credit

The exchange rate from the original transaction is sued for these transaction types:

6 - Credit Memo
8 - Debit Memo
9 - Reversal

When a credit is created, the exchange rate is used to calculate any profit or loss against the exchange rate of the transaction. When you create a COD transaction, the Exchange Rate window displays the bank currency. When you apply Miscellaneous Cash, the Exchange Rate window is displayed based on the bank currency, if no customer reference is specified, or based on the customer account.

Invoice information is displayed in the main window after updating or closing the Exchange Rate window.

If you use the Split Payment feature, the customer account must be set up with the same currency in Customer Setup and the corresponding CR Bank Setup record. The bank currency you specify in Customer Cash Receipt Entry is validated against the bank currency from the customer account. You cannot continue if the two currencies do not match.