Hi @alid
As everything in QuickFile is recorded as GBP at a base level (all reporting including your chart of accounts), we capture an exchange rate at 2 points relating to an invoice - date of invoice, date of payment, providing they are converted.
We log an exchange rate captured from xe.com each day which allows us to check historical values too. So you can enter an invoice today dated 6 months ago, and we’d have a record of the exchange rate at that time.
When you create an invoice, the exchange rate is captured, and when you log a payment in GBP (e.g. a EUR invoice paid with GBP), the exchange rate is captured again. With payments, it’s not always the one we have stored as we calculate it based on the enter GBP value.
If it’s paid using it’s own currency (EUR paid as EUR), then you may wish to record a currency loss/gain against the EUR bank account on your account.
There is more about this in our knowledge base article.