Welcome

Welcome to HandsonERP.com

This site provides video based training of Oracle Financials.
Learn concepts and functionality in a step by step manner.

Login

HandsonERP - Oracle E-Business Suite Training
Welcome, Guest
Please Login or Register.    Lost Password?
Re:apply Receipt in multi currency to a transaction (1 viewing) (1) Guest
Please post inquiries related to lessons content here. All questions and inquiries related to the website should be submitted directly using Contact form in the top menu.
Go to bottom Post Reply Favoured: 0
TOPIC: Re:apply Receipt in multi currency to a transaction
#2069
dave (User)
Expert Boarder
Posts: 109
graphgraph
User Offline Click here to see the profile of this user
apply Receipt in multi currency to a transaction 8 Years, 1 Month ago  
Hi

Suppose i have entered a transaction in AR in USD and
now i can apply receipt - 50% in USD and rest of the 50% in CAD

Please advice
Thanks
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
#2079
handsonerp (Admin)
Admin
Posts: 1989
graph
User Offline Click here to see the profile of this user
Re:apply Receipt in multi currency to a transaction 8 Years, 1 Month ago  
1)
To be able to apply a receipt in one currency to one or more transactions in a different currency, set the system profile option AR: Enable Cross Currency to Yes.
You can define this profile option at the Site, Application, or User level.

2)
Also define Entered Currency Balancing account for your ledger.
When you create a cross currency receipt application, the resulting accounting entry consists of two currencies:
the entered currency and the functional currency.
The journal must be balanced in both currencies. Entered Currency Balancing account is used for this purpose.
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
#2090
dave (User)
Expert Boarder
Posts: 109
graphgraph
User Offline Click here to see the profile of this user
Re:apply Receipt in multi currency to a transaction 8 Years, 1 Month ago  
Hi
In R12.1.2 i don't see this Profile option AR: Enable Cross Currency

i see this
AR: Receipt Application keep cross currency rate unchanged

please advice
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
#2093
arun (User)
Expert Boarder
Posts: 144
graphgraph
User Offline Click here to see the profile of this user
Re:apply Receipt in multi currency to a transaction 8 Years, 1 Month ago  
Hi Hasan,

What do you mean by "Entered Currency Balancing account" ? There would be a Gain/Loss Account which is used for Translation - are you refering to that?

Thanks,

Arun
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
#2105
handsonerp (Admin)
Admin
Posts: 1989
graph
User Offline Click here to see the profile of this user
Re:apply Receipt in multi currency to a transaction 8 Years, 1 Month ago  
Yes, you are right, in all versions that are on 11.5.H patch or onwards (including R12), the profile option "AR: Enable Cross Currency" is assumed to be enabled. So you dont have to worry about it. Make sure you have enabled the foreign currency that you wish to use and your bank account setup supports multiple currencies.
 
Report to moderator   Logged Logged  
  The administrator has disabled public write access.
#2106
handsonerp (Admin)
Admin
Posts: 1989
graph
User Offline Click here to see the profile of this user
Re:apply Receipt in multi currency to a transaction 8 Years, 1 Month ago  
Entered Currency Balancing Account is specified at Ledger level Using ACcounting Setups window.
In Oracle a journal must be balanced in both "entered currency" as well as in "functional/converted" currency.
When foreign currency is involved then entered currency might not be in balance (debits must be equal to credits).
Then Oracle inserts additional journal lines to balance the journal in entered currency. These additioanl lines do not have an impact on functional currency.
See the attached document for an example related to foreign currency bank reconciliation.
File Attachment:
File Name: entered_currency_balancing_account_example.zip
File Size: 3206
 
Report to moderator   Logged Logged  
 
Last Edit: 2011/08/22 04:44 By handsonerp.
  The administrator has disabled public write access.
Go to top Post Reply
Powered by FireBoardget the latest posts directly to your desktop