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

Payments in a foreign currency must be recorded 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 what was received at the bank.
4. Click Save.

If you import transactions, this may create a duplicate transaction. Open your Transactions page and merge the duplicate transactions. Learn how to merge or unmerge transactions.

Record a foreign currency payment on a bill

Payments in a foreign currency must be recorded 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 Choose the payment method, enter the amount paid, and select the account the funds were withdrawn from.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 what you received at the bank.
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, this may create a duplicate transaction. Open your Transactions page and merge the duplicate transactions. Learn how to merge or unmerge transactions.