Financial updates

A/R quick payment multi-currency residual calculation (RS9071)

Note: This feature was released in April 2021, but it required a feature key to activate. This feature is now available without the requirement of a feature key.

We have enhanced the functionality so you no longer have to convert multi-currency payment distribution into domestic currency and then back to payment currency. These are the specific changes:

Invoices and credit memos in any currency are translated into a single currency which is the currency of payment. After translation, both invoice balance and payment amount are represented in the same currency.
The payment amount is distributed among Invoices. That value is represented as payment currency.
Calculation of payment applied is performed based on distributed payment amount in the payment currency, which doesn’t require further currency conversion.

On the A/R Quick Payment Application form, the Amt to Pay (Payment Currency) and the Amt to Pay (Domestic Currency) columns have been added to the grid. On the A/R Payment Distributions form, the Payment Dist Amount and Exchange Rate fields have been added.