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Question from petergatt on Jan 12 at 11:14 AM Dear all
Can you please help me out in this process? My client has a bank account managed in USD and his Local Currency is in EURO.
Payments are made to a supplier in USD at an established exchange rate. The bank reconciliation (manual) is then processed on a later date with a different exchange rate - the rate in the system.
The client is then clearing the Vendor Payments with the Bank reconciliation posting. This in turn posts a clearing document as well as a realised gain/loss on exchange. The clearing of the Payment with the invoice also takes place as a further process with a further gain/loss on exchange created.
The client is saying that in the case when clearing Payments with the Bank reconciliation for foreign currency the posting should not create a gain / loss on exchange.
Can you please help? Is the process correct? They can update the foreign exchange rate in the table when posting the bank reconciliation to be more or less equal to average exchange rate of payments but this is not practical.
Is it possible to someway define the exchange rates during manual bank reconciliation or avoid the creation of an exchange rate division?
Many thanks
PRG
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