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ECM: Foreign Currency Transactions Cause Book To Bank Reconciliation Report to be Unbalanced (Doc ID 1282140.1)

Last updated on AUGUST 27, 2020

Applies to:

PeopleSoft Enterprise FIN Cash Management - Version 9 and later
Information in this document applies to any platform.

Goal

How can the bellow scenario be handled?

  1. Create a Cash Management EFT Request,  for a non-banking currency , on a bank account that has a different currency than the GL the business unit.
    For example a GBP payment from a CAD bank account on a US business unit. Process the payment through approvals and Financial Gateway until the status is "Paid".
  2. Create a bank statement with the transaction present. Reconcile against the original EFT - creating a true-up external transaction if required.
  3. Create a month-end bank statement - no transactions, just a brought forward balance.
  4. Make sure currency exchange rates vary between the transaction and month-end dates (may be work exaggerating any movements so the effect is more visible)
  5. Run all necessary sub-system accounting and journal posts to create GL entries for all transactions.
  6. Run revaluation process on the GL bank account
  7. Run Book to Bank reconciliation for the bank account. The Book To Bank Reconciliation will not balance.

Solution

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In this Document
Goal
Solution
References


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