I have a lot of currency receipts that I can assign to a supplier with the correct default currency set.
The tagging process always defaults to the base currency and the only way I have found to change this is to go back and edit the receipt when I am able to select the correct currency.
If a default currency is set for a supplier then I would expect that that currency to be offered first.
Have only been using the software for a couple of days…
Now found that it is necessary to first enter the transactions and then tag to get currency to work easily.
How do I do a currency journal transaction from one currency bank account to another? The debit and credit default to the base currency - help please. I need to transfer R1000 from a Rand bank account to the Rand petty cash account.
The base currency of GBP is never involved.
I’m afraid we also don’t support foreign currency to foreign currency bank transfers. One way you could achieve this is to use a GBP account as an intermediary. Transfer into the GBP account then transfer out to the other foreign currency account.
To be honest as we support only UK clients at this time, we don’t get many cases of companies moving money between multiple foreign currency bank accounts. We will of course review this over time.
Just “found” bank transactions. Can transfer between foreign ccy bank account to foreign ccy cash account and tag manually. This now makes the software workable for us. Relief.
It is not uncommon to have a Euro account and visit Europe on business, when you will need cash, and you may also have a Euro designated credit or debit card. These need interbank transfers.
Transferring via a GBP account will result in a bit of a mess as it does not reflect reality.
Hopefully to be added to the wish list.
Foreign currency on the Receipt Hub is likely to be a more popular request. Although moving money between different foreign currency accounts less so, I’m just going by the sort of requests we receive on the forum.
All our development is based on ideas posted here and how many upvotes they receive. As we got hundreds of different requests every month it’s really the only way we can priorities our work, we can’t implement everything so we focus on those areas that affect the most users.
If anything changes on the points you’ve mentioned I will update this thread.
When entering a foreign currency invoice from the receipt hub the system does not pick up on the supplier currency it should use. For me, it always uses GBP.
Therefore, I have to go into the invoice after it’s created and manually change the currency type.
In addition, I notice the system does not pull the VAT status /Options of the supplier from the DB, and I have to manually click that the VAT status is ‘out of scope’
@gino, this is not a bug. We don’t currently support foreign currency purchases from the Receipt Hub. I have relocated your post here. Also there currently is no way to set OOS for VAT on the receipt hub.
I’m pleased to confirm that we now support full Multi-Currency from within the Receipt Hub.
You can either link a scanned receipt to an existing foreign currency purchase invoice.
Alternatively you can create a band new purchase record from the Receipt Hub, selecting your preferred currency.
QuickFile will automatically calculate the exchange rate (referenced from xe.com) and display the Sterling amount. You can also assign payment from a GBP bank account or an account denominated in the same currency as the purchase record you’re creating.
