Matching by Transaction Currency

Account Allocations (ACA) allows you to match transactions using the transaction amount rather than the base currency amount. This is typically required when you have received payment in the transaction currency and wish to allocate to transactions with the same transaction currency.

To match the payment you should extract the transactions in the normal way. However, you should set the following Extract selection criteria to only select transactions that reference the appropriate transaction currency:

• Currency Identifier

  Set this to Transaction Value, to only extract transactions that reference the required transaction currency.

• Currency Code/To/All

  Set this to the transaction currency code you wish to match on. If the Currency Identifier is set to Transaction Value, then only transactions with a transaction currency value entered in this currency are extracted.

Once you have extracted the transactions, you should display the allocation totals in the transaction currency. To do so, from the Action menu select Currency Totals > Transaction Currency.

You can then allocate the transactions as usual, but based on the transaction currency amounts.

When you post the allocations you must choose to save the allocations in the transaction currency. This means that the allocations must balance in the transaction currency before you can post them. If these values do not balance you must manually adjust the allocations to make them balance.

If, once the transaction currency amounts balance, the base currency amounts do not balance, then a gain/loss transaction may be generated and posted automatically to the specified accounts.

If settlement discount applies, then the conversion rate used on each source transaction is used on any discount and tax on settlement discount transactions generated.