IMCS Uses PO Exchange Rate To Convert Invoices Value From Non-Local Currency To Local Currency
(Doc ID 2945383.1)
Last updated on AUGUST 07, 2023
Applies to:
Oracle Retail Invoice Matching Cloud Service - Version 22.1 to 23.1 [Release 22.1 to 23.1]Information in this document applies to any platform.
Symptoms
IMCS selection of the Exchange Rate to be used when converting the Invoices Value from Non-Local Currency to Local Currency
IMCS uses PO Exchange Rate to convert Invoices value from Non-Local Currency to Local Currency
Financial impact - High, Legislative impact including government fines / penalties, Regulatory impact.
Currently IMCS uses PO Exchange Rate to convert Invoices value from Non-Local Currency to Local Currency.
However, the Countries where the Client operates have the Legal Requirement to use the Daily Spot Exchange Rate, considering the following "Country / Base Date" mapping:
Country Base Date
Poland - Invoice date
Slovakia - Invoice date
Czech - Invoice date
Romania - Invoice date
Hungary - Invoice date
Croatia - Invoice date
Slovenia - Invoice date
Lithuania - Invoice date
Latvia - Invoice date
Estonia - Invoice date
Bulgaria - Invoice date
Serbia - Customs Clearance Date for GFR Invoices & Invoice date for Service Invoices
Italy - Invoice date
Austria - Invoice date
Spain - Invoice date
Germany - Invoice date
Cause
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In this Document
| Symptoms |
| Cause |
| Solution |
| References |