For an overview of the issues with Foreign currency please see these articles:<\/p>\n
Sage Financials multi-currency part 1<\/a><\/p>\n Sage Financials multi-currency part 2<\/a><\/p>\n If accounting for currency fluctuations is important to your business, then this is one reliable way to handle your fx transactions:<\/p>\n If you use the prevailing exchange rate, Sage Financials will make the appropriate posting to record the gain\/loss from currency fluctuation and you can enter a quoted exchange rate if you want.<\/p>\n Full details<\/a><\/p>\n Full details<\/a><\/p>\n This requires additional customisation using a Holding Account to handled FX loss\/gain as Sage have not configured Supplier Payments with the Payment Adjustment Type\u00a0<\/em><\/p>\nOur recommendation<\/h2>\n
Exchange Rate<\/h3>\n
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Entering Invoices<\/h3>\n
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Receipts & Payments<\/h3>\n
Foreign currency Customer Receipts using a GBP bank account<\/h3>\n
Without Bank Charges<\/h4>\n
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\nMatch to Invoice Number<\/li>\n<\/ul>\nWith Bank Charges<\/h4>\n
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\nMatch to Invoice Number<\/li>\n<\/ul>\nForeign currency Customer Receipts using a foreign currency bank account<\/h3>\n
Without Bank Charges<\/h4>\n
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\nMatch to Customer Receipt Journal Item<\/li>\n<\/ul>\nWith Bank Charges<\/h4>\n
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\nMatch to Customer Receipt Journal Item<\/li>\n<\/ul>\nForeign currency Supplier Payments using a GBP bank account<\/h3>\n
Without Bank Charges<\/h4>\n
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\nThis posts the GBP amount to the holding account<\/li>\n
\nUse ‘Payment Number’ to post the payment<\/li>\n<\/ul>\nWith Bank Charges<\/h4>\n
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\nThis posts the GBP amount to the holding account<\/li>\n
\nUse ‘Payment Number’ to post the payment and then use (+) to add bank charges<\/li>\n