Payment scenario 3 - foreign payment (LCY to FCY) in the Dutch version
You can use telebanking for trade with domestic and foreign customers and vendors. This article describes a scenario where the trade is with foreign customers and vendors that use a different currency than your local currency.
- Create Vendor/Customer.
- Create Vendor/Customer Bank Account.
- Create and Post Purchase Invoice for Vendor or Sales Invoice for Customer.
- Create Proposal.
- Create Payment History.
- Export Payment History.
- Import Bank Statement.
Hinweis
In the following examples, some standard CRONUS data is being used. Likewise, instead of creating a vendor/customer and a vendor/customer bank account you could use existing data.
Create vendor/customer
Create vendor/customer and enter all necessary information. Special attention should be paid to the following fields:
- Currency Code: Set it to the foreign currency (FCY).
- Transaction Mode Code: Select a transaction mode for foreign currency payments through your local bank account.
- Preferred Bank Account Code: Select the default vendor or customer bank account in the same currency as the vendor or customer.
Hinweis
To enter a bank account in the Preferred Bank Account Code, vendor/customer bank accounts must be available. See below.
Example
Hernandez Ortiz (code ORTIZ) is one of our Mexican vendors. Purchase invoices are paid through our national bank account (code ABN) to their bank account (code HOBA). While our bank account ABN is denominated in local currency (LCY), Hernandez Ortiz's bank account HOBA is denominated in Mexican peso (MXN). Therefore, on Hernandez Ortiz's vendor card, we set the Currency Code field to MXN, fill the Transaction Mode Code field with ABN that is linked to our bank account, ABN, and set the Preferred Bank Account Code field to HOBA.
Create vendor/customer bank account
Create vendor/customer bank account and enter all necessary information. Special attention should be paid to the following fields:
- Bank Account No.: Enter a valid bank account number.
- Currency Code: Set it to the foreign currency (FCY).
- Account Holder: Complete the account holder information.
Example
Hernandez Ortiz's bank account (code HOBA) is denominated in MXN. Therefore, on Hernandez Ortiz's vendor bank account card, we enter a valid number in the Bank Account No. field, set the Currency Code field to MXN, and fill the fields on the Account Holder FastTab with appropriate values.
Create and post purchase invoice for vendor or sales invoice for customer
Create a purchase/sales invoice and enter all necessary information. Special attention should be paid to the following fields:
- Currency Code: Set it to the foreign currency (FCY).
- Transaction Mode Code: Select a transaction mode that supports the required currency conversion through your local bank account.
- Bank Account Code: Select the vendor or customer bank account for the payment.
By default these three fields are populated with values taken from the vendor/customer card.
When the invoice is finished, it can be posted.
Example
When creating a purchase invoice for Hernandez Ortiz, we enter ORTIZ in the Buy-from Vendor No. field. By default, the Currency Code, Transaction Mode Code, and Bank Account Code fields are populated with values taken from the Hernandez Ortiz's vendor card. Therefore, the Currency Code, Transaction Mode Code, and Bank Account Code fields are MXN, ABN, and HOBA respectively. Nevertheless, these values can be changed.
Create proposal
Open the Telebank - Bank Overview page and browse to the bank through which we want to perform our payment. Open the Telebank Proposal page and generate payment proposals using the Get Proposal Entries batch job.
Example
Through the Telebank - Bank Overview page, we open the Telebank Proposal page for our bank, ABN. Using the batch job, one proposal line is created for the purchase invoice we just created and posted for the vendor ORTIZ. The amount of the payment is in local currency (LCY).
Create payment history
From the Telebank Proposal page, choose Check and resolve any errors. Choose Process to create the payment history, which is available on the Payment History List page for the same bank.
Example
We process our proposal concerning the payment to the vendor ORTIZ and open the Payment History List page for our bank, ABN. The last payment history is the one we just created.
Export payment history
Open the Payment History List page, select the payment history, and choose Export. Complete any options for the linked export protocol. The protocol determines the file format and uses Default File Names to generate the file name. Submit the exported file to your bank.
Example
As the transaction mode associated with our payment is ABN, the BBV or PAYMUL batch job appears.
Import bank statement
After receiving electronic bank statements from our bank, we can import them by running the appropriate import protocol from the Import Protocol List page.
Example
The bank statement containing our payment to Hernandez Ortiz is sent to us by our bank, ABN. Therefore, we should choose OFFICE NET EXTRA as the appropriate import protocol.