Payment Scenario 2 - Foreign Payment (FCY to FCY)
You can use telebanking for trade with domestic and foreign customers and vendors. This topic 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:
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 will be paid through our foreign bank account (code ABN-USD) to her 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:
Preferred Bank Account: enter a valid bank account number.
Currency Code: set it to the foreign currency (FCY).
Owner Information:be sure all owner information has been 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:
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 will be 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 will be populated with values taken from the Jannet Carter's vendor card. Therefore the Currency Code, Transaction Mode and Bank Account fields will be USD, ABN-USD and JCBA respectively. Nevertheless, these values can be changed.
Create Proposal
Open the Telebank - Bank Overview window and browse to the bank through which we want to perform our payment. Open the Proposal window and generate payment proposals using the Get Proposal Entries batch job.
Example
Through the Telebank - Bank Overview window we open the Proposal window for our bank ABN-USD. Using the batch job one proposal line will be created for the purchase invoice we just created and posted for vendor JANNET.
Create Payment History
From the Proposal window we process our proposal into a payment history. The proposal will disappear and can be found in the Payment History Overview window for the same bank.
Example
We process our proposal concerning the payment to vendor JANNET and open the Payment History Overview window for our bank ABN-USD. The last payment history is the one we just created.
Export Payment History
Open the Payment History List window, browse to the relevant payment history and choose Export. The export batch job will appear 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 tab and click OK to export the payment. The system will generate a text file using a filename as defined in the Default File Names 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 will 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 window.
Example
The bank statement containing our payment to Jannet Carter will be sent to us by our bank ABN-USD. Therefore we should chose OFFICE NET EXTRA as the appropriate import protocol.
See Also
Tasks
How to: Create Proposals
How to: Create and Export Payment History