Home Currency is CAD.
We have 2 banks, one is CAD and one is USD.

We now have a new Supplier that is charging CHF (Swiss Francs).

We enter the Invoice in CHF – This works properly.
For example, at a rate of 1 CHF = 1.52 CAD, an Invoice for 1000 CHF = $1520 CAD.

We want to make the Payment to the Vendor from the USD Bank.
This would be at a rate of 1 CHF = $1.10 USD.
So, we want to pay 1000CHF from the USD Bank, which equals $1100 USD.

Can this transaction be completed in Adagio?

Hello Sam,

No, it can't. In Payables and BankRec, Payments are made in the currency of the Bank.

Hi Sam,

It can't be completed in one step, but it can be processed. Setup a CHF bank, in both AP and BR consider it a flow thru bank. Record the payment in CHF against the vendor account and then do a bank transfer between your CHF bank to your USD bank. If you could be sure the correct rate would be loaded in the system you could setup a rule to auto-transfer. But it is likely cleaner to use the correct exchange rate if entered manually. The entry could be done at the time of entering the payment as a batch in BR or part of the USD bank reconciliation create batch.

Lauren

Lauren:

Thank you for your advice.
I also gave this some thought and figured we can still make the transactions, albeit not in one entry.
I in fact tried this earlier this morning, and figured out that this is the work-around:
We perform a BR transfer between the USD and CAD banks, and then between the CAD and CHF banks.
If we are careful with the rates, we can ensure that the transfer in & out of the CAD bank will net to $0.00.
And in the end, the USD funds will have been transferred to the CHF bank.

I am glad that your input verifies that this is the way to achieve the transaction.