Suppliers invoice in USD

Question asked by Alyson Gouldsworthy 10 years ago

Hi I have a suppliers invoice that is in USD. We pay the invoice in USD from paypal accounts in regular intervals. On the suppliers statement it shows the original payment and then converts it to GBP. The USD conversion is then showing a much higher amount.

Eg One the statement for one payment it states completed original payment $9000 with exchange rate of 1.5666 (this is what we paid) The payment then shows £5891.26 / $9481.73. This is the amount used to pay off the invoice.

This is $481.73 more that what was paid. How is this ever going to calculate correctly?

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4 Replies

Hi Alyson

I presume you're looking at the 'running balance' statement? If so, the system should automatically adjust any difference by way of a posting to the P&L.

I've just recreated this in the demo, running balance view looks like this:

file

With the resulting P&L entry here:

file

Can you not see the FX adjustment in your clients' books as above?

Best answer
10 years ago

Hi Alyson

Apologies, missed your first reply.

Sure, feel free to fire anything you've got across to info@platformaccounting.com and i'll take a look.

10 years ago

Hi

Please can you take a look at this for me.

Thanks

10 years ago

Hi

I was looking at the full statement as there are several payments off the invoice. The running balance is incorrect and the forex is not listed on the P&L report. I can send you a print screen is you like. I don't want to to this on the community.

Regards

10 years ago

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