Payment Scenario 2 - Foreign payment (FCY to FCY) in the Dutch version
You can use telebanking for trade with domestic and foreign customers and vendors. This article describes a scenario where the trade is with foreign customers and vendor that use the same foreign currency as your bank account is set up to use.
The following list describes the main steps:
- Create Vendor/Customer.
- Create Vendor/Customer Bank Account.
- Create and Post Purchase Invoice for Vendor or Sales Invoice for Customer.
- Create Proposal.
- Create Payment History.
- Export Payment History.
- Import Bank Statement.
Note
In the examples below some standard CRONUS data is being used. Likewise instead of creating a vendor/customer and a vendor/customer bank account you could use existing data.
Create Vendor/Customer
Create vendor/customer and enter all necessary information. Special attention should be paid to the following fields:
- Currency Code: Set it to the foreign currency (FCY).
- Transaction Mode: Select an appropriate, default transaction mode - i.e. one that can deal with foreign currency payments for your foreign bank.
- Preferred Bank Account: Select an appropriate, default vendor/customer bank account having the same Currency Code as the vendor/customer itself.
Note
In order to be able to enter a bank account in the Bank Account vendor/customer bank accounts must be available. See below.
Example
Jannet Carter (code JANNET) is one of our US vendors. Purchase invoices are paid through our foreign bank account (code ABN-USD) to their bank account (code JCBA). Both bank account ABN-USD and JCBA are denominated in the same foreign currency (FCY) - i.e. USD. Therefore, on Jannet Carter's vendor card, we set the Currency Code field to USD, fill the Transaction Mode field with ABN-USD that is linked to our bank account, ABN-USD and set the Bank Account field to JCBA.
Create Vendor/Customer bank account
Create vendor/customer bank account and enter all necessary information. Special attention should be paid to the following fields:
- Preferred Bank Account: Enter a valid bank account number.
- Currency Code: Set it to the foreign currency (FCY).
- Owner Information: Make sure all owner information is entered.
Example
Jannet Carter's bank account (code JCBA) is denominated in foreign currency (FCY) - i.e. USD. Therefore, on Jannet Carter's vendor bank account card, we enter a valid number in the Bank Account No. field, set the Currency Code field to USD, and fill the fields on the Owner Information tab with appropriate values.
Create and post purchase invoice for vendor or sales invoice for customer
Create a purchase/sales invoice and enter all necessary information. Special attention should be paid to the following fields:
- Currency Code: Set it to the foreign currency (FCY).
- Transaction Mode: Select an appropriate, default transaction mode - i.e. one that can deal with foreign currency payments for your foreign bank.
- Preferred Bank Account: Select an appropriate, default vendor/customer bank account having the same Currency Code is the vendor/customer itself.
By default, these three fields are populated with values taken from the vendor/customer card.
When the invoice is finished, it can be posted.
Example
When creating a purchase invoice for Jannet Carter, we enter JANNET in the Buy-from Vendor No. field. By default, the Currency Code, Transaction Mode, and Bank Account fields are populated with values taken from the Jannet Carter's vendor card. Therefore, the Currency Code, Transaction Mode, and Bank Account fields are USD, ABN-USD, and JCBA respectively. Nevertheless, these values can be changed.
Create proposal
Open the Telebank - Bank Overview page and browse to the bank through which we want to perform our payment. Open the Proposal page and generate payment proposals using the Get Proposal Entries batch job.
Example
Through the Telebank - Bank Overview page, we open the Proposal page for our bank, ABN-USD. Using the batch job, one proposal line is created for the purchase invoice we just created and posted for the vendor JANNET.
Create payment history
From the Proposal page we process our proposal into a payment history. The proposal disappears and can be found on the Payment History Overview page for the same bank.
Example
We process our proposal concerning the payment to the vendor JANNET and open the Payment History Overview page for our bank, ABN-USD. The last payment history is the one we created.
Export payment history
Open the Payment History Overview page, browse to the relevant payment history and choose the Export action. The export batch job appears for the export protocol that is linked to this payment. For this export, the system already has entered appropriate filters. Check, if wanted, any of the fields on the Options FastTab, and then choose the OK button to export the payment. The system generates a text file using a filename as defined in the Default File Names Field field of the export protocol, which now is ready to be sent to our bank.
Example
As the transaction mode associated with our payment is ABN-USD, the BBV or PAYMUL batch job appear.
Import bank statement
After receiving electronic bank statements from our bank, we can import them by running the appropriate import protocol from the Import Protocol List page.
Example
Our bank sent us the bank statement containing our payment to Jannet Carter, ABN-USD. Therefore, we choose OFFICE NET EXTRA as the appropriate import protocol.