Multiple Bank Accounts for a Vendor

Doogie

Active Member
Dear Forum,
Does anyone have experience of holding Vendors in the A/B with multiple Bank Account details for payments made in more than one currency? I am looking for some guidance on 'preferred' set-up, implications and known issues with processing payments (i.e. do you generally create multiple AB records with C/P relationships and associate the bank accounts at this level, or does the payment set-up (P04572) dictate which account is used based on the currency code etc?

Doogie OneWorld XE
 
doogie,

Are you transmitting payments electronically? Does
your company use different banks/accounts for each
different currency? It is possible to setup different
AAI rules to manage specific currencies.

On the vendor side, there is no field in the bank
account screen to capture currency data. You would
need to setup multiple vendor address records (not
preferred) or require users to input the currency from
the voucher. Based on the currency of the voucher,
you can define pre-payment processes to capture
process specific currencies based on the vouched
currency. You would end up with multiple pre-payment
processes, but could review the results of each in the
work with payments screens.
--- Doogie <[email protected]> wrote:
http://www.jdelist.com/ubb/showthreaded.php?Cat=&Board=Apps&Number=39781


__________________________________________________


World, OW B733X and Xe
 
Mike,

Thanks for the reply! I perhaps wasn't explaining myself too well - the 'challenge' I have is that I have, for example, a single vendor that supplies the organisation under contract and submits invoices for exoenses - we have a contractual agreement to pay the invoice in the currency that it is in, and this can be a variety of currencies depending on where the expense was incurred. The long term plan is that we move to paying in a single currency but the situation I am dealing with has not progressed to that stage at this point. With a single vendor record I am therefore interested in making payment to a specific bank account for a single vendor records based on the currency associated with the invoice. Hope this adds a little clarity!?! Doogie
 
doogie,

you need to set up your GL accounts for AP checks so
they are denominated in a specific currency. You can
then link the GL account to a prepayment process and
include only those AP invoices in that denomination.

For example, add GL account 1.1110.FRF. Mandate the
account be only used for FRF vouchers by adding the
currency code in the currency field when adding the
account. This sets the account as monetary and will
not allow other currency transactions to be processed.
Then set up an pre-payment group to use that account
with processing options/data selections capturing only
vouchers nominated as such. You can then have your AP
staff enter the transaction with a single
vendor/supplier and change the voucher currency.
--- Doogie <[email protected]> wrote:
http://www.jdelist.com/ubb/showthreaded.php?Cat=&Board=Apps&Number=39897


__________________________________________________


World, OW B733X and Xe
 
Hi,
You got solution for multiple payment for the vendor?
Please help me too m also facing same issue.
Regards
 
Back
Top