Issue with foreign currency payment via STRIPE

Dear Quickfile community,

We have an issue with payment of foreign currency invoice via Stripe. Here is the problem:

  1. We have issued an invoice in foreign currency e.g. EUR.
  2. Customer paid the invoice in full with her credit card via Stripe.
  3. Funds were automatically converted by STRIPE into GBP since our account is in GBP.
  4. When payment is logged into quickfile, the amount of converted GBP is posted creating a difference.
    For example, we have issued an invoice for 81.07 EUR and customer paid it in full via Stripe. However, only partial payment is logged in quickfile 63.46 EUR, which is the converted amount in GBP creating a difference of 17.61 EUR.

Short term solution is to log a payment for the difference. However, any ideas how it can be fixed permanently?

Thank you in advance.

There’s quite a few posts on currency conversion differences and what to do with them if you do a search.

You can’t tag a payment on the bank to an invoice issued in a different currency to the bank account.

The solution is to go to the EUR invoice and manually log it as paid, when you select the receiving account as the GBP Stripe account it will allow you to specify the exact amount received in GBP. This will obviously create a duplicate on the Stripe account, so you just need to return to the Stripe merchant account and delete the untagged entry.