Advance to employees in Foreign Currency

[Former Member]

Dear All,

I have created a travel request with foreign currency - USD. While creating request i have selected currency as USD against advance amount. But the accounting currency is coming as Company code currency by default. So all the accounting entries were happening in Company code currency ie KES not USD.

Actually whats the procedure for advance in foreign currency thro TMS ?

Thanks

[former_member131723 · Accepted solution]

Hi there

The design for foreign currency and advance works as follows: Advances and Receipts in the home currency are ALWAYS settled in the home currency . Only for foreign currency you can have a accounting currency different to home currency. So: if you want to settle the advance in USD you must enter an advance currency different to KES! Check that in FITVFELD that you have the field for the currency (PTK08-WAERS) enabled so currency can be entered and entries maintained in TCURR/TCURF.        

Actually, its a question you might also find further down the line, but please note that also for Per Diems  - these are also paid only in local accounting or trip currency (unless you specifically customize that they are entered as an expense type instead - then this control comes from the global settings V_706D_B) so check the documentation there.

Hope it helps
Sally

[Former Member · Accepted solution]

Hi Sally,

By referring the previous posts i managed to get the desired results in advance foreign currency, Now as stated by you above,

"Actually, its a question you might also find further down the line, but please note that also for Per Diems  - these are also paid only in local accounting or trip currency (unless you specifically customize that they are entered as an expense type instead - then this control comes from the global settings V_706D_B) so check the documentation there",

my issue is while doing Settlement, I am getting the perdiem in Comp Code currency.

Is this right, or i need to do any changes ?

Thanks...