Bank Payment with Three currencies at a time

[Former Member]

Good afternoon

Iu2019m looking for someone that would know if SAP Business One could handle three different currencies from a Bank payment perspective, meaning that I have ZAR set as my local and system currency and my bank account is a USD currency but my client is paying me in their currency which could be anything let say EUR.

My system is set up local and system currency being the same, but like this it canu2019t manage three currencies it only looks at the local and BP currency when doing a payment not giving me the option to pay in USD. Itu2019s important because when I pay my client out of my USD bank account into their EUR account the system only keeps track of the exchange rate between my local and bank currency and I need it to keep track of both EUR to USD and USD to ZAR.

Does anyone know how I would be able to do this in SAP B1?

Thank you all

Regards

Ronald

[Former Member · Accepted solution]

Hi Ronald

I had a similar issue with Namibia where they can accept Rands or Namibian Dollars as the Namibian Dollar is linked to the Rand through our Reserve Bank at 1:1. It is a bit tricky to handle but here goes. You could consider using an interim account for the incoming payment to offset in EUR. Then use a journal to transfer the EUR to the USD account. With other words under bank transfer in payment means, choose an interim account instead of the bank account. Then do a journal to transfer the EUR into the USD account. Only problem is that any exchange rate gains or losses must be posted manually.

Give me a call on my cell if you need more assistance

Kind regards

Peter Juby