Foreign Currency Transaction Not Balancing

There is a scenario when paying bills with foreign currencies that may cause an incorrect transaction value. This article gives you a workaround.

The issue
You use the Bill Payment form when paying bills. As a JCurve customer, the default bill payment form is called “JCurve Bill Payment”.
It has come to our attention that the “Exchange Rate” field is missing from this form.
If you have enabled the following “International features” at Setup -> Company -> Enable Features:

  • Multiple Currencies
  • Currency Exchange Rate Integration,

the Bill Payment record, by default, will use the current exchange rate value of the day as delivered by the “Currency Exchange Rate Integration” function.

The impact on transactions
Whenever you try to pay a bill on a different day to the applying-to transaction, ie. the bill, you face the risk of a change to the exchange rate. By not being able to change the exchange rate, you will see a variance between the bill amount, and the bill payment amount.

The workaround
While in Edit mode on the Bill Payment form, assuming you are still using the “JCurve Bill Payment” form, one of the first fields on the form is called “Custom Form”, which lets you change the form that your Bill Payment will use. Changing this value from the “JCurve Bill Payment” form to the “Standard Bill Payment” form will reload the current page, and you will now be able to see the “Exchange Rate” field.
Simply correct the exchange rate value to what you need and then save the form, to correct your variance between your bill and your bill payment.

Long Term Solution
JCurve is taking action to resolve this, ie. to ensure that the “Exchange Rate” field appears on the “JCurve Bill Payment” form.

Did this help? If not, try contacting us Submit a request