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

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Aug 6th, 2022

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How to Replace EU Currency Field in 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 is PSD2 in simple terms?

What is PSD2? The revised Payment Services Directive 2 (PSD2) aims to better align payment regulation with the market and technologys current state. It introduces security requirements for the initiation and processing of electronic payments and the protection of consumers financial data.

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 PSD1 and PSD2?

PSD1 only addresses transfers inside the EU and is limited to the currencies of the Member States. PSD2 will extend the application of PSD1 rules on transparency to one-leg transactions, hence covering payment transactions to persons outside the EU as regards the EU part of the transaction.

What countries are in the scope of PSD2?

PSD2 countries are the countries of the European Economic Area (EEA), Monaco, and the UK.

What is the PSD2 definition of a payment service?

Payment Service Provider (PSP) In the PSD2 context, a PSP is the entity that enables merchants to accept online payments such as credit card, debit card, or bank transfer (direct debit or SEPA) either with or without a merchant account. PSPs are combinations of payment gateways and payment processors.

What is the difference between GDPR and PSD2?

Under the GDPR, consent must be freely given, specific, informed, and unambiguous. Under PSD2, explicit consent is required specifically for payment service providers to access, process, and retain personal data.

What does PSD1 stand for?

Payment Services Directive 1, to give it its full title, is a supranational law designed to regulate payment services and payment service providers in all EU and EEA Member States.

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