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Replace EU Currency Field from the Demand For Extension Of Payment Date

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Aug 6th, 2022

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How to Replace EU Currency Field from the Demand For Extension Of Payment Date

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hi what is the meaning of foreign currency valuation and what is the difference between realized and unrealized foreign currency differences this is what Im going to explain in the video today I am also going to demonstrate how the foreign currency differences are processed in SA PS for Hannah any company is requested to report financial statements in the low context currency of the country so for example if we have a company in Egypt then we have to report our financial statements in Egyptian pounds now lets assume that we have suppliers in u.s. so whenever we buy products from these suppliers we have to record the invoices and the payments in USD but also at the same time we have to record all these transactions in Egyptian pounds and this is what we call foreign currency valuation that we have to evaluate any foreign currency transactions to our local currency now lets assume that today is the 15th of January and Im going to buy some products from my u.s. supplier for 1000 USD n

Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What currency was replaced by the euro?

The euro was launched on January 1, 1999, replacing the precursor ecu at a 1:1 value. Until the circulation of currency notes and coins in 2002, the euro was used only by financial markets and certain businesses.

What is the payment service directive 3?

The 3rd Payment Services Directive, PSD3, is an upcoming framework that regulates electronic payments and the banking ecosystem within the European single market area (EEA). The PSD3 will be decided by the EC after a round of consultations.

What is the EU payment directive?

PSD2 is a European regulation for electronic payment services. It seeks to make payments more secure in Europe, boost innovation and help banking services adapt to new technologies. PSD2 is evidence of the increasing importance Application Program Interfaces (APIs) are acquiring in different financial sectors.

What is the difference between PSD and PSD2?

While PSD1 only applies to intra-EU payments, PSD2 extends a number of obligations, notably information obligations, to payments to and from third countries, where one of the payment service providers is located in the European Union.

Who does the payment services directive apply to?

Any authorised payment service provider, be it a bank or a payment institution, can issue payment instruments. Payment instruments do not only cover payment cards, such as debit cards and credit cards, but any personalised device or set of rules agreed between the issuer and the user used to initiate a payment.

What is payment services directive EU 2015 2366?

The revised Payment Services Directive (EU 2015/2366 PSD2) aims to reduce fraud while opening up payment markets to new entrants. Increasing security standards is a key part of PSD2 and the associated European Commission delegated Regulation (EU 2018/389).

What is the EU directive on payment services PSD2?

PSD2 introduces stricter rules for creating and processing electronic payments (particularly online payments) and for protecting your financial data. Strong Customer Authentication (SCA) must be used to confirm your identity or confirm that you authorise the payment.

What is the payment service directive?

The Payment Services Directive is an EU Directive administered by the European Commission (Directorate General Internal Market) to regulate payment services and payment service providers throughout the European Union (EU) and European Economic Area (EEA).

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