Your company has businesses with foreign suppliers whose company currencies are different from yours, so you set up different bank accounts with different currencies, and hope that during automatic payments, the system can propose the right bank accounts according to the currency codes in the supplier invoices. But the system does not react that way.
Reproducing the Issue
- Go to the Payables work center and choose the Automatic Payments view.
- Show All Payment Proposals.
- Choose one payment proposal in which the transactional currency is not your company currency, and the Payment Method is Bank Transfer.
- Choose Edit, and then go to the General Data tab.
- You can see the Bank Account ID is XYZ.
- Then go to the Liquidity Management work center, and choose the Master Data view.
- Choose My Banks subview.
- Choose the related bank, and then click Edit Bank Accounts.
- Select the bank account XYZ and then go to the Account tab.
You can see the Currency of the Bank Account is not the same in the payment proposal.
In the fine-tune activity Global Settings for Payment, select Prioritize Bank Accounts and Payment Methods, you can see that for the Payment Method International bank transfer, only bank account XYZ is maintained. As this bank account is set as the highest priority, so whenever an international bank transfer transaction happens, bank account XYZ is proposed.
In order to have the system proposes the right bank account, first of all, you have to change the prioritization if the bank account XYZ is not wanted with the highest priority. Then follow the steps below to maintain the mater data:
- Go to the Liquidity Management work center, and choose the Master Data view.
- Select My Banks subview.
- Select the related bank, and choose Edit Bank Accounts.
- Select the bank account XYZ, and then choose Alternative Currency tab.
- To allow transactions to be processed in a currency other than the main bank account currency, specify that currency here. Note: If you do not specify any alternative currencies, then all currencies are allowed for the bank account.
- Maintain the alternative currency for all the other bank accounts in this bank.
Meanwhile, if you keep an agreed amount on deposit with your bank, you should enter this amount in the Minimum Amount field. Similarly, if you wish to keep an amount on deposit below a certain amount, you can enter this in the Maximum Amount field. These are not mandatory but they are used by the liquidity check and influence the bank account selection as well.
KBA , bank account , SRD-FIN-ACR , Receivables , How To