bank exchange rate

Dear all Can you tell me how to handle bank currencyexchange rate when we make payment in muti currency . ie vendor invoice local currency SGD. we want to make payment from our USD bank account. If bank is giving different exchange rate then the one wich we are using in the currency Exchange rate table

Hi Sridhar Presuming you do not want a developer to answer this I will say that on the payment journal if you alter the currency code field to pay a vendor in a differnt currency from that defined on the invoice you can select the three ellipses in the currency field and view the exchange rate - essentially the following is true:


When you post a foreign currency transaction, the program uses the posting date on the invoice or journal line and the information in the Currency Exchange Rate table to find the relevant exchange rate. If a posting date is not specified (for example, on a purchase requistion), the program uses the work date to find the corresponding exchange rate.

I hope this helps [:D]