Thank you for reading this post.
I have a business bank account in GBP and do circa 70% of my business with EU or Extra-EU Companies.
This means that majority of the invoices I issue are not in GBP but either in EUR or USD.
Every time a customer pays an invoice the converted amount in GBP that lands in my business account is different from the GBP amount calculated by Quickfile in the invoice section. That’s not a problem, i’m fine with the overriding however when I try to download a list of invoices/sales I found out that list comes with amount in the original currenty (EUR or USD) and the GBP amount converted by Quickfile. This list doesn’t show the real GBP value I have manually input in to override the conversion done by Quickfile.
Is there a way to get an invoice lists including invoice number, Invoice date, invoice description, invoice value in foreign currency and actual paid amount in GBP?
The difference you are seeing here is because QuickFile calculates an exchange rate for the invoice and payment separately. Exporting a list of invoices or viewing an invoice in general will not show you the exchange rate associated with the payment. The difference allows you to calculate currency loss/gains on your accounts, i.e. you raise an invoice at one time (and one specific rate) and it’s paid at a later time (with a different rate).
For any given invoice you can see the exchange rate in the invoice editor. It is this rate that will show on the invoice export.
To see the exchange rate applied to the payment, click the payment link on the invoice preview screen.
On the payment preview you should be able to see the rate applied.
To get a list of exchange rates for the actual payments you would need to go to Sales >> Payments and export this payment list there.
Hope that helps, please let me know if you need any further clarification.
