iVend POS - Multicurrency Payments Integration with SAP Business One

iVend POS - Multicurrency Payments Integration with SAP Business One

Introduction

With iVend versions 6.2 and above, there is now full support on the Cash tender type for multiple foreign currencies. Foreign Currency payments processed at the Point of Sale (POS) can now be integrated to SAP Business One (SBO) in foreign currencies rather than in the system base currency as was the means in versions of iVend Retail before 6.2.
Any currency which is being accepted at the POS apart from the base currency of the system will be treated as Foreign Currency.
iVend accepts the payment against a transaction in foreign currency. In iVend, you can receive payments in any of the foreign currencies as they have been defined in SBO. Currency and exchange rates are defined in SBO when iVend is integrated with it. The Invoice total is displayed in foreign currency on selection of the respective currency based on the exchange rate defined.  
What follows, is the process for setting up iVend to enable multi-currency payment integration with SBO:
1. In SBO, choose Administration > System Initialization > iVend Retail > Retail Setting
Select the option, Split Payment By Foreign Currency check box.

1. From the Main Menu, choose Administration > System Initialization > iVend Retail > Set BP Currency to All Currencies.
The Set BP Currency to All Currencies - Selection window appears.

In this window, Foreign Currencies BP and Foreign + Local Currencies BP values are available in the dropdown. Select any value and choose [Ok] to confirm.
The Set BP Currency to All Currencies window  appears.

In the Set BP Currency to All Currencies window, Clicking the Convert button will run a batch process to convert the Currency setting for all the listed Business Partners to All Currencies.
1. From the Main Menu, choose Administration > Setup > Inventory > Warehouses.
The Warehouses - Setup window appears.

1. Navigate to the Retail store warehouse.
2. In the Foreign Currency Accounts tab, specify the G/L accounts for all foreign currencies.
These G/L accounts will be used when foreign currency payment transactions integrate with SBO.

1. Now let us receive a multi-currency payment at the POS for a transaction with a total of $110 in the base system currency – View the following screen images for a guide.

1. Now let us check this multi-currency payment transaction in SBO – View the following screen images for a guide.


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