Hi Arend,

You can settle the invoice using a forign currency cash account. Is it a manual payment or a bank transfer? 

If you just want to record the payment, go to mixed payment window and select a USD cash account.

Now, you can settle the invoice invoice.

If you are using automatic payment proposal, make sure to select “Cash Account In any Currency” option in Payment Method level (Payment Methods window). Then, you can select the USD account when creating the payment order.

Best Regards

Eranda

Eranda, I think problem is that some currencies are simply not exchangeable (which might be the case for AOA/AON currency) and bank will refuse transaction. I am not sure if you can issue a payment order in the system with payment currency different than invoice currency (even from cash account in your domestic currency). 
It is possible for sure to do a manual payment (initiated outside the system, e.g. in homebanking directly) and match it on booking in mixed payment with invoice in any currency.  

Hi Adam,

It is true that you cannot issue a payment order in the system with payment currency other than the invoice currency. Because, payment currency and the invoice currency is same from the system perspective. But, as you know, most of the banks/clearing systems allows you to debit your account for the forign currency transactions. So, what I am assuming here is, both debtor and creditor has bank accounts in other currency, For an example,  if you instruct your bank to pay AON invoice via EUR bank account, the bank will debit your EUR account and make EUR transfer to the creditor’s bank. So, there is no AON transaction taken place within the clearing channels. But, if the creditor is only accepted AON, there might be some challenges based on the clearing channel they used. 

Best Regards

Eranda

Hi, Eranda,

I think that’s the point:  if you instruct your bank to pay AON invoice via EUR bank account, the bank will debit your EUR account, convert debited amount into AON and make AON transfer to the creditor’s bank. At list that instruction created by IFS system works - payment/transfer currency is always invoice currency regardless of the source bank account currency. 

Best Regards

Adam

Hi Adam,

My suggestion is to negotiate with the supplier to quote a bank account in prominent currency. e.g. EUR in this case. If the supplier has a bank account in EUR, the bank will credit the equivalent EUR amount to supplier’s bank account. So, there will be no AON transfer within the clearing system.

See the below example in relating to ISO20022 clearing.

Best Regards

Eranda

well, I am not sure, 

in pain.001 we will simply instruct bank:

<Amt>

<InstdAmt Ccy="USD">150.0</InstdAmt>

</Amt>

from cash account in EUR, we do not have option to create <EqvtAmt> tag where we could instruct to transfer EUR equivalent of given USD amount.

And e.g. CACIB bank put a comment in their ISO20022 guide:

If the currency of the amount is not an existing ISO4217 code (ignoring case), the transaction is rejected
If the currency of the amount is not authorized by CACIB, the transaction is rejected

Thanks all,

So this is not possible. Will revert to the Supplier to get an Invoice in a different Currency.

Arend