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Transfer Currency

  • 18 August 2021
  • 2 replies
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Userlevel 5
Badge +8

Hi folks,

 

An error message is being encountered when saving a mixed payment to process a 'Cash transfer' from one Currency account to another Currency account e.g. EUR to USD account.

 

Accounting currency is GBP and It will allow to transfer EUR to GBP account or USD to GBP Account but not EUR to USD.

 

Message states 'Currency EUR is not allowed for cash account CURRENTUSD in company HEATH'

 

 

Could you please advice on this?

 

Best Regards,

Thakshila

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Best answer by Shehan Almeida 18 August 2021, 19:32

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2 replies

Userlevel 7
Badge +14

Hi Thakshila,

 

As you mentioned, application allows to make a cash transfer between foreign a currency account and a accounting currency cash account.

 

However, as per the current functionality, if both the cash accounts are foreign currency accounts it is not possible to record the transactions.
 

In many countries there are certain restrictions/regulations over the foreign currency Accounts that are maintained in the payment institutes. It is not normally allowed to do any other currency transactions than the specified currency for that Account.  

 

Can you please let us know the actual business scenario here, then we can post it as a new idea for future developments.

 

Shehan Almeida.

Userlevel 5
Badge +8

Hi Thakshila,

 

As you mentioned, application allows to make a cash transfer between foreign a currency account and a accounting currency cash account.

 

However, as per the current functionality, if both the cash accounts are foreign currency accounts it is not possible to record the transactions.
 

In many countries there are certain restrictions/regulations over the foreign currency Accounts that are maintained in the payment institutes. It is not normally allowed to do any other currency transactions than the specified currency for that Account.  

 

Can you please let us know the actual business scenario here, then we can post it as a new idea for future developments.

 

Shehan Almeida.

Hi Shehan,

 

Thank you so much for the information.

 

Best Regards,

Thakshila