Using Multicurrency with Royal Bank of Canada and US currency

TechKnowledge Content

Issue Summary:

Using Multicurrency with Royal Bank of Canada and US currency

Issue Detail:

Using Multicurrency with Royal Bank of Canada and US currency shows incorrect currency when using EFT Company is using Royal bank of Canada. They want to pay in US dollars. They have Z-C$ set up as their functional currency (setup-financial-multcurrency) and originating as Z-US$. They set up checkbook, currency ID (under trx entry), and EFT vendor with US to pay to Royal Bank. EFT vendor is Z-US$. Invoice is entered in Z-US$ for $100 (exchange rate is 20% which is Z-C$120.00). Everything is set to Z-US$ except for the functional currency. They build the batch and it pulls Z-US$ the way it should, but when they generate an EFT note it shows as $120 Canadian.

To test this:
1) Set your Functional Currency as Z-C$ (setup-financial-multcurrency)
2) Go to Setup-Purchasing-EFT Payables Setup-EFT Setup
3) Select Royal Bank of Canada
4) Fill in the Bank Specific Fields (Example: transit routing number, select path for PM Pre-Note File, etc) and select Z-US$ for currency
5) Setup a EFT Vendor to use Z-US$ (Setup-Purchasing-EFT Payables Setup-EFT Vendor Cards)
6) Setup your EFT Pre-note (Setup-Purchasing-EFT Payables Setup-EFT Prenotes)
7) Go to Setup-System-Exchange Rate and select 20% for the exchange rate
8) Go to Cards-Financial-Checkbook and setup a checkbook using Z-US$ for the currency
9) Go to Transactions-Purchasing-Transactions Entry and create an invoice using Z-US$ for currency and a payment of $100
10) Go to Transactions-Purchasing-Select Checks and create a batch ID (using Z-US$)
11) Build the batch. It should pull in Z-US$.
12) Print and Post the batch End result: Even though the batch pulls in Z-US$ for $100, when the EFT note is generated is will show $120. Within the ME_Generate_EFT_Files l_Generate EFT File_CHG script, the origcurr is defined as a local Boolean, default false. It is passed as an input parameter to the global script ME_Add_to_Direct_Deposit, where the following conditional check is made: if origcurr then set docamount to 'Originating Document Amount' of table MC_PM_Transactions; else set docamount to 'Document Amount' of table ME_EFT_Generation_TEMP; end if; Since origcurr is always false in this script, the docamount is not set to the originating but the functional amount. So, yes, it will always grab the functional amount.

Status of Resolution:

This issue has been resolved with Service Pack 1 for release 7.5.

This article was TechKnowledge Document ID: 34090

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