Multicurrency Payment of Bills: Entry of the Payment Amount Instead of the Cross Rate

When you create a payment on the Checks and Payments (AP302000) form, you can enter the amount paid, cash discount taken, and withholding tax in the document currency. You don't need to manually calculate the cross rate based on application amounts.

On this form, you can also:

• Review the exact cross rate used for payments sent to vendors
• Enter either a direct rate or a reciprocal rate when applying payments to bills in different currencies

For more details, see Multicurrency Payment of Bills: To Change the Payment Amount Instead of Cross Rate.

Cross Rate Selection

On the Documents to Apply tab of the Checks and Payments (AP302000) form, the value in the Cross Rate column is a link. If you click this link, the Cross Rate Selection dialog box opens.

This dialog box contains the Currency Unit Equivalents section, which includes the default direct and reciprocal rates. You can update the reciprocal rate, and the system will recalculate the direct rate. If you change the direct rate, the system will recalculate the reciprocal rate.