How to add non-sterling transaction fees and expenses?


I made a purchase using my personal credit card and need to add the full amount as an expense. What is the correct way to do this, given that the sales invoice is in USD and the actual transaction amount and non-sterling transaction fee are listed separately in GBP, and only shown on my credit card statement?

I’ve searched the forum and seen a few references to non-sterling transaction fees, but most of the posts are several years old and don’t seem to fully relate to what I’m trying to do. Given that it’s a fairly common occurrence, I imagine it’s fairly simple to do, but I’m not sure how - can anyone help/point me in the right direction?

Many thanks in advance :slight_smile:

Hi @Laney,

Apologies that your post appears to have been missed and not answered. If you have purchased something using your personal credit card then you can tag the invoice as paid from the Directors loan account and the same with the fees. This way when the company pays you back you for the expense you’re reimbursed correctly

I assume your credit card isn’t linked to QF? In which case you need to either enter a supplier invoice (with you as the supplier) or raise a journal if you are confident doing that. The amount should be the GBP that you actually paid.
Choose whichever expense category is relevant and then, as @Beth says, scroll down to the payment section and “pay” the invoice by selecting the director’s loan account if you are a limited company or the Proprietor Drawings Account if you are a sole trader.

1 Like

Thanks to both of your for replying (much appreciated), sorry it’s taken me so long to respond…

In the end, the bank reimbursed the transaction fees, which was jolly nice of them! So I entered them as normal expenses, putting the GBP paid and noting the USD amount and exchange rate, as shown on my statement. I hope that’s OK, as I don’t think I can change it now…?

@cbstephensaca I liked your suggestion of putting myself as the supplier. How would I do that, as it would be ‘me’ as an individual not a business? Also not sure how I’d raise a journal, but that’s perhaps something to look into… Also, you were correct, my personal credit card isn’t linked to QF.

Thanks again both of you!!


You just set up a supplier in the usual way, with your name and address details. It’s not ideal, as you are not really a supplier, you are claiming expenses for reimbursement. However, it’s a reasonable workaround if you are not confident raising a journal.

To use a journal entry, you would debit the relevant expense in the P&L and the credit would go to either Director’s Loan or Proprietor’s Drawings. When you paid yourself the money back, you would then tag it to the same account.

This topic was automatically closed after 6 days. New replies are no longer allowed.