Record a payment on a foreign currency invoice or bill

Record a foreign currency payment on an invoice

Record a foreign currency payment on a bill

Record a foreign currency payment on an invoice

You must record foreign currency payments directly on the invoice. To record the payment:

1. On the left-side menu, click Sales & Payments > Invoices, then click Record payment next to the invoice.
2. Enter the date, amount paid, method of payment, and the bank account where the funds were deposited.
3. Enter the exchange rate to match the rate applied by your bank for this payment.
4. Click Save.

If you import transactions, recording this payment may create a duplicate transaction. To resolve this, open your Transactions page and merge the duplicate transactions.

Record a foreign currency payment on a bill

You must record foreign currency payments directly on the bill. To record the bill as paid:

1. On the left-side menu, click Purchases > Bills, then select Record a payment next to the bill.

2. Choose the payment method, enter the amount paid, and select the account the funds were withdrawn from.

   

3. Enter the exchange rate to match the rate applied by your bank for this payment.
4. Click Save.

The difference between the bill amount on the creation date and the payment date represents the realized gain or loss on foreign exchange. You can track these gains or losses in Reports > Profit and Loss.

If you import transactions, recording this payment may create a duplicate transaction. To resolve this, open your Transactions page and merge the duplicate transactions.