Reconcile Foreign currency Supplier Payments using a GBP bank account The scenario is: You add a Purchase Invoice for $5,340.70 in Jan when the exchange rate is 1.20 You pay the supplier in full, £4,108.23, in Feb and are quoted an exchange rate of 1.3000 by the bank. There are additional £5 fx charges applied   Read more about Foreign currency Supplier Payments using a GBP bank account (new method)[…]

Reconcile Supplier Payments with no bank charges The scenario is: You add a Purchase Invoice for $3,540.67 in Jan when the exchange rate is 1.20 You pay the supplier in full, $3,540.67, in Feb when the exchange rate is 1.30     Reconcile Supplier Payments WITH bank charges The scenario is: You add a Purchase Invoice Read more about Foreign currency Supplier Payments using a Foreign Currency bank account[…]

Reconcile Supplier Payments with no bank charges The scenario is: You add a Purchase Invoice for $5,340.70 in Jan when the exchange rate is 1.20 You pay the supplier in full, £4,104.00, in Feb and are quoted an exchange rate of 1.30134 by the bank.   Reconcile Supplier Payments WITH bank charges The scenario is: You Read more about Foreign currency Supplier Payments using a GBP bank account[…]

For an overview of the issues with Foreign currency please see these articles: Sage Financials multi-currency part 1 Sage Financials multi-currency part 2 Our recommendation If accounting for currency fluctuations is important to your business, then this is one reliable way to handle your fx transactions: Exchange Rate Set your exchange rate on the first Read more about Foreign Currency[…]

Reconcile Customer Receipt with no bank charges The scenario is: You raise a Sales Invoice for $672 in Jan when the exchange rate is 1.20 You receive payment in full in Feb when the exchange rate is 1.3.   Reconcile Customer Receipt WITH bank charges The scenario is: You raise a Sales Invoice for $700 Read more about Foreign currency receipts using a foreign currency bank account[…]

Reconcile Customer Receipt with no bank charges The scenario is: You raise a Sales Invoice for $464.91 in Jan when the exchange rate is 1.20 You receive payment in full, £357.62, in Feb when the exchange rate is 1.3.   Reconcile Customer Receipt WITH bank charges The scenario is: You raise a Sales Invoice for $480 Read more about Foreign currency receipts using a GBP bank account[…]

This explains how to manage Payroll when using the new Bank Reconciliation. Basically you clone the Ledger Entry from the previous month and overwrite the details. But this does not generate anything you can use in Bank Reconciliation, so the Payroll Ledger Entry posts the salaries payable to ‘2220 Salaries and Wages Payable’ and in Read more about Payroll – Bank Reconciliation[…]

This explains how to manage Payroll when using the old Bank Matching. Basically you clone the Ledger Entry from the previous month and overwrite the details. This will update the Dimension Tag balances that you match to in Bank Matching.   Payroll Ledger Entry   Editing tips with Grid View Editor