Hi, I have posted purchase invoice in Euro but when I am trying to tag bank transaction (in pounds) to this invoice after picking up a supplier the system gives me information that this supplier has no outstanding invoices to pay. When I get back to the supplier it definitely has an unpaid invoice there. When I made payment on account for this supplier and got back to him the payment on account is there as a prepayment, the unpaid invoice is still there (already converted into pounds) but I can’t see the way how to match them two to make invoice paid. Can you guide me through this please?
You have to record cross-currency payments starting from the purchase itself - “log payment” on the purchase and you will have the option to set the foreign currency amount and the appropriate GBP amount and QuickFile will handle the exchange rate loss or gain. This will create a new pre-tagged transaction on the bank account, you then delete the untagged duplicate one.
With the prepayment, I suspect what happened is that you tagged the transaction as a GBP prepayment, which can’t them be used to pay down an invoice in another currency. You can create a EUR (or whatever) prepayment from a GBP bank account but again this has to be initiated from “new prepayment” on the supplier control panel rather than by tagging a bank transaction.
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