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Bank Reconciliation: Foreign Exchange

edited Aug 24, 2020 1:25PM in Payables, Payments & Cash Management 3 comments

Summary

Bank Reconciliation: how to account for foreign exchange gain/loss between bank statement and AP system transaction

Content

Scenario:

An Oracle AP invoice amount of 152.49 AUD and it will be pay in the accounting currency of GBP  for 83.99.

The Bank Statement transactions shows the GBP amount = 84.32
What is the best approach to settle the exchange rate difference on this transaction within the Bank Reconciliation module?

Version

20B
Tagged:

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