Selecting Transactions for Payment by Currency

Payments can be made or collected in the base currency, or the individual currencies for transaction currency and fourth currency. This is determined by the Currency for Payments setting in Ledger Setup (LES).

If one of the non-base currency options is selected, the outstanding transactions on debtor/receivables, creditor/payables and client accounts can be selected by currency.

In a payment profile you can control the currencies you wish to include, or exclude, for payment. In the simplest case you might include all currencies and thereby produce payments in any currency referenced in the appropriate currency value. For example, if Transaction Currency is selected as the Currency for Payments in Ledger Setup (LES), payments could be produced in any of the transaction currencies used.

Alternatively, you can include or exclude up to 30 nominated currencies for a single profile. For example, you may have a number of different bank accounts which are restricted to particular currencies. You would set up payment profiles to identify a set of currencies for a nominated payment account.

You can also set a payment value range against each of the first 13 nominated currencies in the payment profile. This range applies to either the account balance or individual transaction values selected for payment in the relevant currency, as defined by the Apply To field for the Amount Threshold. If you do not set a value range for a currency, the range specified in the Amount Threshold fields for the base currency is used.

Note:  When the Currency for Payments flag in Ledger Setup (LES) is set to a non-base currency option, any transactions entered in the base currency only will not be selected for payment. You must set the Currency for Payments flag to Base currency and run Payment Run or Payment Collection Run to pay these base currency only transactions.

Linking Currencies to Payment Accounts

To help with treasury management, you can specify a payment account to be used with a payment profile. For example, payments in USD can be tied to a USD bank account.

You can also set a payment run total which cannot be exceeded. You can either do this on the payment profile, or you can add Payment Limit to your selection criteria. You are then prompted to enter the payment limit when you use Payment Run or Payment Collection Run. If this payment limit is exceeded the payment run is abandoned and no payments are made.