Financial Management - PSFT (MOSC)

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How to auto-reconcile foreign currency wire payments

edited Jun 28, 2019 5:00AM in Financial Management - PSFT (MOSC) 1 commentAnswered

Hi. Our bank (HSBC) is allowing us send wire payments in foreign currency. When the paycycle runs PeopleSoft records the payment using the exchange rate in peoplesoft at time of payment. The bank processes the payment and we discover the actual payment amount and exchange rate when we receive the BAI file.

I believe we need to do a customization to generate the FX gain/loss as follows:

1) Insert rows into VCHR_ACCTG_LINE to offset cash and fx gain/loss to true up the USD payment amount.

2) Insert a row into PS_PAYMENT_TBL for the FX true-up so can be picked up in bank reconciliation

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