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  1. Reconciliation - Foreign payment from foreign currency (different)

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    submitted  ·  4 comments  ·  For small businesses » Accounting features  ·  Admin →
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    Elisabeth Saunders commented  · 

    As we have multiple currency bank accounts and often bills generated in one country are invoiced in another currency (GBPs, EURs and USDs being classic currencies for many supplies - particularly Software charges - which then recur monthly - so multiple transactions a month/year, which can't be automated.

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    Elisabeth Saunders commented  · 

    There is a need in multi currency businesses (or businesses that work across multiple countries) to allow bank payments to be assigned to bills in a currency other than the currency of the bank account used, or the base currency of the actual business.
    ie. A GBP base currency country paying a BILL in EUR out of a USD bank account.
    The workaround is clunky and overly complicated - and easily results in a unbalanced clearing account without significant manual adjustments.
    The way in which the system allows some transactions to be processed easily in the match process would be greatly improved if this was also a possibility.

    Elisabeth Saunders supported this idea  ·