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foreign wire payments

Former Member
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Folks,

Can I know how to handle the below request?

A supplier will invoice us in a foreign currency and we book the payable on our ledger in the foreign currency. When payment is due, we create an FX wire in the Bank's CashPro system. The payment value is input in the foreign currency and we are given a conversion rate. Bnak transfers the payment in the foreign currency and debits our bank account for the USD value.

Please let me know how to configure this.

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Answers (1)

Answers (1)

former_member182098
Active Contributor
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There is nothing special to be configured here.

Check if you have any DME structures available, otherwise use standard RF* jobs on FBZP. Otherwise, you need to create your own customized program.

Do you expect any file is to be generated? If so, that has to be incorporated in the customized program.

FBZP

You must concentrate on

  • Payment Methods in Company Code

Select

Foreign business partner allowed

Foreign Currency allowed

cust/vendor bank abroad allowed?

Former Member
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Thank You Ravi, for your explanation. Now, I have a question on once the payment is made in foreign currency, how do we settle the payment in USD as I had mentioned in my original query.

Thank You.

suma_mani
Active Contributor
0 Kudos

Hi Raghava,

Vendor open items automatically clear ,if use the F110 transaction to made payments whether it is local or foreign currency. Because your invoice posted in USD and Payment also make in USD. Loss and Gain exchange account getting debit or credit based on exchange rate.

Rgds

Suma Mani