Projects:AdvPaymentMngt/Technical Documentation Multicurrency
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Advanced Payables and Receivables MultiCurrency Enhancement
Artifact List
The development of this enhancement involves the creation/addition of the several items in the application dictionary. Notice that new fields will require of the creation of the corresponding columns in the application dictionary. The relation of these new database objects is described in the Database Structure Definition section. Below is the list of windows and processes that are impacted by the changes.
Purchase Invoice
List of artifacts needed on this core window:
New Fields
Payment Detail tab: (child of Payment Plan Tab)
New fields included
- Exchange Rate:The rate used to convert from the invoice currency to the payment currency
- Expected (Account Currency): The expected amount converted to the financial account currency (expected amount * exchange rate)
- Paid Converted: The paid amount converted to the financial account currency (paid amount * exchange rate)
The fields are all read only and are only displayed when currency of payment is different to currency of financial account that payment was made from.
TBD - Rearrange field layout The field layout will be changed to follow a similar layout to the add payment popup in the mockup
| Organization | |
| Invoice Payment Plan | |
| Payment | |
| Payment Date | |
| Due Date | |
| Payment Method | Financial Account |
| Currency | Exchange Rate* |
| Expected Amount | Expected Converted* |
| Paid Amount | Paid Converted* |
Add Payment process
New fields will be added to the Add Payment popup as per the mockup in Simple Scenario use case .
These fields are only visible when the currency of the selected bank account is different to the currency of the invoice
- Exchange Rate: The rate used to convert from the invoice currency to the payment currency (i.e. invoice amount * exchange rate = converted amount). Editable by user, when rate is change the expected converted and actual converted fields are updated.
- Expected Converted: The expected payment amount converted to the payment currency (using exchange rate). Read only.
- Actual Converted : The actual payment amount in the payment currency (actual payment * exchange rate). Editable by user, when changed the exchange rate and expected converted fields are updated.
The Expected Converted and Actual Converted fields will also be updated when the Actual Payment field is updated
Payment Method callout: when a payment method is selected it currently loads financial accounts which support the payment method and that match the invoice currency. If the payment method allows multicurrency payments, then the list of available accounts will include all financial accounts that support that payment method and allow multicurrency payments using that method.
Available Payments Grid - this grid will only list available payments for orders/invoices that match the currency in the Currency field
Purchase Order
List of artifacts needed on this core window:
New Fields
Payment Detail tab (child of Payment Plan):
Changes as per Purchase Invoice
Sales Invoice
List of artifacts needed on this core window:
New Fields
Payment Detail tab: (child of Payment Plan Tab)
New fields included
- Exchange Rate:The rate used to convert from the invoice currency to the payment currency
- Expected (Account Currency): The expected amount converted to the financial account currency (expected amount * exchange rate)
- Received (Account Currency): The received amount converted to the financial account currency (received amount * exchange rate)
The fields are all read only and are only displayed when currency of payment is different to currency of financial account that payment was made from.
TBD - Rearrange field layout The field layout will be changed to follow a similar layout to the add payment popup in the mockup
| Organization | |
| Invoice Payment Plan | |
| Payment | |
| Payment Date | |
| Due Date | |
| Payment Method | Financial Account |
| Currency | Exchange Rate* |
| Expected Amount | Expected Converted* |
| Received Amount | Received Converted* |
Add Payment process
New fields will be added to the Add Payment popup based on the mockup in Simple Scenario use case .
These fields are only visible when the currency of the selected bank account is different to the currency of the invoice
- Exchange Rate: The rate used to convert from the invoice currency to the payment currency (i.e. invoice amount * exchange rate = converted amount). Editable by user, when rate is changed the expected converted and actual converted fields are updated.
- Expected Converted: The expected payment amount converted to the payment currency (using exchange rate). Read only.
- Actual Converted : The actual payment amount in the payment currency (actual payment * exchange rate). Editable by user, when changed the exchange rate and expected converted fields are updated.
The Expected Converted and Actual Converted fields will also be updated when the Actual Payment field is updated
Payment Method callout: when a payment method is selected it currently loads financial accounts which support the payment method and that match the invoice currency. If the payment method allows multicurrency payments, then the list of available accounts will include all financial accounts that support that payment method and allow multicurrency payments using that method.
Available Payments Grid - this grid will only list available payments for orders/invoices that match the currency in the Currency field
Sales Order
List of artifacts needed on this core window:
New Fields
Payment Detail tab (child of Payment Plan):
Changes as per Sales Invoice
Financial Account
List of artifacts needed on this core window:
New Fields
Payment Method tab: New fields included:
- Receipt of Other Currencies Allowed : When selected this signifies that the payment method can be used to receive payments in other currencies
- Payment to Other Currencies Allowed : When selected this signifies that the payment method can be used to make payments in other currencies
Transactions tab
The transaction grid will be enhance to show the foreign currency amount in the Received and Paid Amt columns. The foreign amount will shown in brackets after the actual amount transacted in the account. e.g. 100 (140 USD)
Manual Reconciliation process
The Reconciliation Popup will be enhance to show the foreign currency amount in the Received and Paid Amt columns of the transaction grid. The foreign amount will shown in brackets after the actual amount transacted in the account. e.g. 100 (140 USD)
Reconcile to Bank Statement process
The Match using imported Bank Statement Lines Popup will be enhance to show the foreign currency amount in the Amount column of the Transaction in Openbravo section of the grid. The foreign amount will shown in brackets after the actual amount transacted in the account. e.g. 100 (140 USD)
The Payment selector that is opened using the "find" link in the popup will also need to be enhanced to show the foreign currency amounts TODO (currently broken in my test instance)
Add Transaction process
The Add Transaction popup will be enhanced to allow the transaction to be specified in a different currency.
Transaction Type: Payment
When the payment is has a different currency to the financial account, the received in/paid out amount will be editable. This allows for a variation in the final amount in/out of the account due to exchange rate fluctuations.
Transaction Type: GL Item and Fee
New Fields
- Foreign Currency : Checkbox to enable foreign currency for this transaction. When selected the rest of the new fields are visible
- Currency: Source currency of the transaction
- Exchange Rate:Rate to convert from the account currency to the foreign currency. Editable by user and will update converted amount when changed.
- Converted Amount: Received In/Paid Out amount converted to the foreign currency using the specified exchange rate. Editable by user & will update exchange rate when changed.
Payment Out
List of artifacts needed on this core window:
New Fields
Header tab: New fields included
- Exchange Rate:The rate used to convert from the payment currency to the financial account currency. User can edit the exchange rate and the converted amount is updated when the rate is changed
- Converted Amount: The payment amount converted to the financial account currency ((amount + writeoff amount) * exchange rate). User can edit the converted amount & the exchange rate is updated when the amount is changed. Converted amount is also updated when the amount field is changed.
The fields are only displayed when currency of payment is different to currency of financial account that payment was made from.
Changed fields
- Currency - becomes a selectable field, used to specify the currency that is paid to.
TBD - Rearrange field layout The field layout will be changed to follow a similar layout to the add payment popup in the mockup
| Organization | |
| Document Type | |
| Document No | Reference No |
| Description | |
| Payment Date | |
| Paying To | |
| Payment Method | Paying From |
| Currencye | Exchange Rate* |
| Amount | Converted Amount* |
| Write-off | |
| Generated Credit | Used Credit |
| Status | |
Lines tab:
TBD - display converted amount
New Callouts
- SE_Payment_FinAccount - Update currency, exchange rate for selected account
- SE_Payment_Currency - Update exchange rate, converted amount
- SE_Payment_Amount - Update converted amount
- SE_Payment_FinAccountTransactionAmount - Update exchange rate
- SE_Payment_FinAccountConvertRate - Update converted amount
Add Payment process
- All invoices/amounts will be in the payment currency.
- Add fields for exchange rate and converted amount when payment is multicurrency
Payment In
List of artifacts needed on this core window:
New Fields
Header tab:
New fields included
- Exchange Rate:The rate used to convert from the payment currency to the financial account currency. User can edit the exchange rate and the converted amount is updated when the rate is changed
- Converted Amount: The payment amount converted to the financial account currency ((amount + writeoff amount) * exchange rate). User can edit the converted amount & the exchange rate is updated when the amount is changed. Converted amount is also updated when the amount field is changed.
The fields are only displayed when currency of payment is different to currency of financial account that payment was made from.
Changed fields
- Currency - becomes a selectable field, used to specify the currency that is paid to.
TBD - Rearrange field layout The field layout will be changed to follow a similar layout to the add payment popup in the mockup
| Organization | |
| Document Type | |
| Document No | Reference No |
| Description | |
| Payment Date | |
| Received From | |
| Payment Method | Deposit To |
| Currency | Exchange Rate* |
| Amount | Converted Amount* |
| Write-off | |
| Generated Credit | Used Credit |
| Status | |
Lines tab:
TBD - display converted amount
New Callouts
- SE_Payment_FinAccount - Update currency, exchange rate for selected account
- SE_Payment_Currency - Update exchange rate, converted amount
- SE_Payment_Amount - Update converted amount
- SE_Payment_FinAccountTransactionAmount - Update exchange rate
- SE_Payment_FinAccountConvertRate - Update converted amount
Add Payment process
- All invoices/amounts will be in the payment currency.
- Add fields for exchange rate and converted amount when payment is multicurrency
Payment Proposal
List of artifacts needed on this core window:
New Fields
Header tab:
New fields included
- Exchange Rate:The rate used to convert from the payment currency to the financial account currency. User can edit the exchange rate and the converted amount is updated when the rate is changed
- Converted Amount: The payment amount converted to the financial account currency ((amount + writeoff amount) * exchange rate). User can edit the converted amount & the exchange rate is updated when the amount is changed. Converted amount is also updated when the amount field is changed.
The fields are only displayed when currency of payment is different to currency of financial account that payment was made from.
Changed fields
- Currency - becomes a selectable field, used to specify the currency that is paid to.
TBD - Rearrange field layout The field layout will be changed to follow a similar layout to the add payment popup in the mockup
| Organization | |
| Document No | Document Type |
| Description | |
| Business Partner | |
| Payment Method | Paying From |
| Currency | Exchange Rate* |
| Payment Date | |
| Due Date | |
| Amount | Converted Amount* |
| Write-off | |
| Status | |
Lines tab:
TBD - display converted amount
Select Expected Payments process
- No change, select expected payments in using target currency
- All invoices/amounts will be in the payment currency.
Payment Method
List of artifacts needed on this core window:
New Fields
Payment Method tab: New fields included:
- Receipt of Other Currencies Allowed : When selected this signifies that the payment method can be used to receive payments in other currencies
- Payment to Other Currencies Allowed : When selected this signifies that the payment method can be used to make payments in other currencies
Database Structure definition
Relation of tables and views that needs to be modified.
FIN_Payment table
Additional columns
| FIN_Payment | |||
|---|---|---|---|
| Column Name | Type | Length | Comments |
| FINACC_TXN_CONVERT_RATE | NUMERIC | The exchange rate used to convert the payment amount to the financial account amount | |
| FINACC_TXN_AMOUNT | NUMERIC | The total amount of the payment, converted to the currency of the financial account. | |
TBD - do we need to store the currency of the financial account (the other side of the exchange rate). At this stage, I think not, that info is available via the financial account foreign key
FIN_Payment_Proposal table
Additional columns
| FIN_Payment_Proposal | |||
|---|---|---|---|
| Column Name | Type | Length | Comments |
| FINACC_TXN_CONVERT_RATE | NUMERIC | The exchange rate used to convert the payment amount to the financial account amount | |
| FINACC_TXN_AMOUNT | NUMERIC | The total amount of the payment, converted to the currency of the financial account. | |
TBD - do we need to store the currency of the financial account (the other side of the exchange rate). At this stage, I think not, that info is available via the financial account foreign key
FIN_Finacc_Transaction table
Additional columns
| FIN_Finacc_Transaction | |||
|---|---|---|---|
| Column Name | Type | Length | Comments |
| PAYMENT_CURRENCY_ID | VARCHAR | 32 | Foreign key to C_CURRENCY indicating the currency of the payment (received or sent). |
| PAYMENT_CONVERT_RATE | NUMERIC | The exchange rate used to convert the payment amount to the financial account amount | |
| PAYMENT_CONVERTED_AMOUNT | NUMERIC | The amount of the transaction in the payment currency (PAYMENT_CURRENCY_ID) | |
TBD - Converted amount could be derived from paymentamt/depositamt and exchange_rate, is there benefit storing it explictly. May be corner cases where rounding on exchange rate calculation would give incorrect results?
FIN_Paymentmethod table
Additional columns
| FIN_Paymentmethod | |||
|---|---|---|---|
| Column Name | Type | Length | Comments |
| PAYIN_ISMULTICURRENCY | CHAR | 1 | Flag indicating if this payment method allows receipt of payments in other currencies |
| PAYOUT_ISMULTICURRENCY | CHAR | 1 | Flag indicating if this payment method allows withdrawl of payments in other currencies |
FIN_Finacc_Paymentmethod table
Additional columns
| FIN_Finacc_Paymentmethod | |||
|---|---|---|---|
| Column Name | Type | Length | Comments |
| PAYIN_ISMULTICURRENCY | CHAR | 1 | Flag indicating if this payment method allows receipt of payments in other currencies |
| PAYOUT_ISMULTICURRENCY | CHAR | 1 | Flag indicating if this payment method allows withdrawl of payments in other currencies |
FIN_Payment_Detail_V view
Additional columns
| FIN_Payment_Detail_V | |||
|---|---|---|---|
| Column Name | Type | Length | Comments |
| EXCHANGE_RATE | NUMERIC | The exchange rate used in the payment | |
| CONVERTED_EXPECTED | NUMERIC | The expected amount converted to the destination (financial account) currency | |
| CONVERTED_PAIDAMT | NUMERIC | The paid amount converted to the destination (financial account) currency | |
Accounting Process changes
The following accounting processes will need to be updated for to support the posting of multicurrency transactions.