Hi I sent a invoice for £17118.69 to a client and they have just paid but i received £16582.06 due to exchange rate . How do i tag this payment to this invoice sent please
Did you bill them in pounds or is your invoice in another currency? If it’s a foreign currency invoice then you do it by using “log payment” on the invoice itself rather than by tagging the bank statement entry. When you log payment on an invoice you can enter the exact amounts sent in the foreign currency and received in GBP and QuickFike will post the loss or gain to “currency charges” automatically.
This will create a new bank transaction for the GBP side, which will duplicate the one imported from your bank, it’s safe to delete the untagged one.
If you billed them in pounds and you’re taking the hit for the difference then you’ll have to do the equivalent by hand - create a dummy bank account, mark the invoice paid in full into that account and tag the money in on your current account as a transfer from the dummy account. This will leave a balance on the dummy account equivalent to the exchange rate loss, manually create a “money out” transaction to bring the balance back to zero and tag it to currency charges via “something not on the list”.
1 Like
This topic was automatically closed after 7 days. New replies are no longer allowed.