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Accounting for FX gains or losses

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edited Mar 12, 2021 3:54PM in Payables, Payments & Cash Management 1 comment

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Hi,

We use cash management and account for payments at payment and clearing. Currently we dont have any tolerance for amount differences between bank statement and system transaction. If there is a currency diff, business solves this with a manual external transaction to be able to reconcile.

We are looking for a way to automate and avoid manually creating the external transaction.

I came a cross the External Transaction for Foreign Exchange Gain or Loss feature in this post: https://cloudcustomerconnect.oracle.com/posts/34ead6193c

I am not 100% sure about this functionality so just wanted to share my questions to see if you have any thoughts.

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