Currency loss when there shouldn't be one

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1

I have an invoice that was issued in EUR and paid in full to a bank account denominated in EUR. In spite of the invoice having been paid in full, QF somehow calculates a currency loss that has been posted to 7902, Currency Charges. The loss is about 1% of the invoice amount. The payment is recorded 3 days after the invoice date. Is the 1% loss calculated based on the difference in the EUR/GBP exchange rate between the invoice date and payment date?

2

Hi @Nike,

With Euros, QuickFile will look at the exchange rate of that day on xe.com to calculate any difference in the rates.

This may be what has caused the difference which has been posted to 7902.

Hope this helps

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