Currency Variance

Support
1

Hi,

I have a euro account set up on QuickFile, which records all of the sales received in euros.

  1. I can see when I create a Sales invoice in Euros that it shows at the top 'currency variance and the unrealised amount in GBP. Is there somewhere where the currency variance is recorded in QuickFile - a report I can run for all sales?

Thank you

2

Hi @NickyH

There isn’t a report as such. The way this part works is the exchange rate is captured at the time of the issue date based on rates available at xe.com. When you then tag the invoice as paid, the actual value is recorded against that dates exchange rates, and a variance is posted to 7902 Currency Charges.

So you could view the ledger entries for 7902 (by going to your Chart of Accounts report), which would show you the realised values.