Reconciliation of Credit Card transactions

  • 27 July 2021
  • 2 replies
  • 135 views
A
Rank
Userlevel 4
Badge +9
  • Arend
  • Sidekick (Customer)
  • 76 replies

Hi all,

 

I would like to hear how you (IFS10 users) are reconciling Credit Card Transactions.

 

Our Credit Card company is invoicing us in the local currency, invoicing us in DKK as we are based in Denmark. The Credit Card Transactions can be in different currencies, like USD, EUR, GBP, etc..

Reconciling the Supplier Invoice against the transactions was never an issue on IFS8, as here TX7 was also posted in the local currency (DKK).

 

IFS8 screenshots. Credit Card Transaction of GBP 32,40 - but TX7 posted as DKK 273,32

 

Now on IFS10, IFS has changed the TX7 posting, and it is now in the Credit Card Transaction Currency. We can’t see any benefit for this and are running into big issues on reconciling/matching the balances. This as we now have an Invoice in local Currency (DKK), but transactions posted in USD, EUR, GBP, etc..

Do we really have to create manual transactions every month, to be able to reconcile & match the balance?

 

This topic has been closed for comments

2 replies

L
Rank
Userlevel 6
Badge +10

Hi @Arend ,

I think you are referring exact the issue reported under solution 285697 - TX7 currency code not in PAYCURR.

After applying the new correction which will be available soon, hope you will be able to get the expected functionality as in APPs8. 

Best Regards,

Lasanthi

 

 

A
Rank
Userlevel 4
Badge +9

Hi Lasanthi,

 

Yes, that was the same - glad to hear that there will be a correction.

Case to be closed.

Arend

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