Settling a USD invoice with INR Payment based on Exchange rate at the time of invoice creation but not based on exchange rate at payment time / settling time

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Posted on by Venkatram Reddy

Hi, I have a scenario, where customer account currency is INR. An invoice is created in USD for the same customer lets say USD 250 on date 01-10-2022 (DD/MM/YYYY). at 75 exchange rate ( 1USD=75INR).

It is an agreement when the customer makes the payment in the future he will only pay in INR which is equivalent to the invoice in USD at exchange rate of 75. i.e. 250*75=18750.

now the customer made the payment of 18750 today on 09/12/2022 (DD/MM/YYYY) and the same need to be settled. I have an issue when it comes to settlement, the system is taking the current exchange rate of 80 and trying to settle the invoice in Dollar. i.e. 18750/80 =237.37 USD. which is a short of 15.62 USD.

my requirement is that I should settle the invoice in USD , with a payment of 18750 INR with exchange rate of 75 but NOT with exchange rate of 80. how this scenario can be achieved ?

your help much appreciated.

regards

SVRR

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Morgan Bazin 95 on at

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On your customer payment journal, on the General tab, you should be able to adjust the exchange rate to meet your needs:

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