Payables and Cash Management - EBS (MOSC)

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Payment reconciliation issue

edited Aug 20, 2021 8:47AM in Payables and Cash Management - EBS (MOSC) 1 commentAnswered

Hello team,

Need your help on bank account reconciliation issue.

We have a ledger in Ireland which has ledger currency as USD. We have a bank account in EUR from which we are trying to make a payment in GBP.

Since oracle does not allow us to issue foreign currency payments from non-functional currency account, we created a dummy USD bank account to issue non-EUR payment out of EUR account.

When bank sends statement ,they will not know that we have paid GBP payment through dummy USD account , they will send all account activities in single EUR account only. But for Non-EUR payment ,they are mentioning ‘Bulk FX rate applied to that payment’ in description column. That will indicate us that this payment was made out of our dummy USD account in oracle.

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