Using external euro translation

You can use the external euro translation functions to translate open invoice amounts in EMU-marked currencies to euros in order to:

  • Generate payment advices in euros and write them to a bank file
  • Generate direct debit advices in euros
  • Generate interest invoices in euros
  • Generate cash forecast in euros
  • Display or print the amounts in euros
Generating payment advices in euros

Normally when you generate a payment advice or a direct debit advice for open invoices, the payment advice currency or the direct debit advice currency is the invoice currency. If the payment method does not allow the use of foreign currencies, the payment method currency of the invoice payment method must be the same as the advice currency. External euro translation allows you to replace the invoice payment method with a euro-related payment method, in order to handle open invoices in EMU currencies in euros.

To use a euro-related payment method:

  1. Define the euro-related payment methods that you need. You can define a euro-related payment method for each existing payment method that handles EMU currencies. For example, you can copy such a method and set the currency for the payment method to Euro Currency. You can also use a different type of report or bank file if this is required for reports in euros.
  2. In the Payment/Receipt Methods (tfcmg0540m000) session, select the euro-related payment method for each payment method that uses an EMU currency.
  3. Use the Data by Bank/Payment Methods (tfcmg0545m000) session to link the new euro-related payment methods to the banks instead of the EMU currency payment methods.

  4. Generate payment advice or direct debit advice in these sessions:

    • Select Invoices for Payment (tfcmg1220m000)
    • Select Invoices for Direct Debit (tfcmg4220m000)

    To generate payment advice or direct debit advice in euros for invoices in EMU currencies, select Use Euro for EMU Invoices.

LN automatically selects the euro-related payment method that you linked to the invoice payment method with the EMU currency if these conditions are met:

  • The rate determiner of the invoice is not of the Fixed type.
  • The Foreign Countries Allowed check box of the payment method linked to the invoice is cleared.
  • The payment method currency is an EMU currency and the payment advice currency is euro. This is the case if the payment method currency is an EMU currency and you selected Use Euro for EMU Invoices.
Note

If you did not link a euro-related payment method for the invoice payment method, LN cannot find a payment method with a matching currency for the generated advice in euros. You can print an audit report of the advices that cannot be processed, and then select the euro-related payment method for each created or generated advice in these sessions:

  • Payment Advice Lines (tfcmg1101m000)
  • Direct Debit Advice (tfcmg4120s000)
Generating interest invoices in euros

In the Select Inv.-to BP Receipts for Interest Invoices (tfacr5210m000) session, select Use Euro for EMU Invoices to generate interest invoices in euros based on open invoices in EMU currencies.

Generating interest cash forecast in euros

In the CMG Parameters (tfcmg0100s000) session, select Use Euro Instead of EMU Currencies to generate cash forecast in euros based on open invoices in EMU currencies.

Printing financial reports in euros

In a number of print sessions of Accounts Payable and Accounts Receivable you can print reports of open invoice amounts that are stored in EMU currencies in the database, in euros. In the print sessions, select Use Euro Instead of EMU Currencies to print the reports in euros.

Displaying amounts in euros

In sessions that show invoice amounts and balance amounts in an EMU currency, you can select Invoice Amounts in Euro from the appropriate menu to display the invoice amount and the balance amount in euros. This command starts the Invoice Amounts in Euro (tfcmg6500s000) session.