Currencies in Payment Processing
Gravity supports the ability to make payments in a currency that is different from the declared bank currency and Entity currency. Currencies used in payment processing:
- Entity Currency - The home currency of the selected Entity. this currency is locked to the selected Entity.
- Bank Currency - The declared currency of a bank account. It is the currency that the bank account is reconciled in. This currency is locked to the selected Bank Account.
- Payment Currency - The currency that the payments are made in.
Three Exchange rates are shown for the batch and can be over written if needed.
- Bank to Entity Exchange Rate - This represents the exchange rate between the chosen Bank Account and the Entity.
- Payment to Entity - This represents the exchange rate between the chosen payment currency and the Entitles currency.
- Payment to Bank - This represents the exchange rate between the select payment currency and the chosen Bank Account.