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.
How can the bellow scenario be handled?
- 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".
- Create a bank statement with the transaction present. Reconcile against the original EFT - creating a true-up external transaction if required.
- Create a month-end bank statement - no transactions, just a brought forward balance.
- 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)
- Run all necessary sub-system accounting and journal posts to create GL entries for all transactions.
- Run revaluation process on the GL bank account
- Run Book to Bank reconciliation for the bank account. The Book To Bank Reconciliation will not balance.
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