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Exchange rate variance

Bookkeeping and Management Accounting help does not have to be specific to the use of Sage 50
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chopin_fanatic
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Sage Version: v2017 23 UK/Europe/Africa

Exchange rate variance

Post by chopin_fanatic » 22 May 2017, 08:37

Due to exchange rate variance, a customer payment is more than the invoice amount. Is the correct process to receive the full payment, leaving remainder as payment on account and then raise an invoice to 7906? This is using Sage 50 v23.

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brucedenney
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Re: Exchange rate variance

Post by brucedenney » 22 May 2017, 09:56

I assume you are not using currency in sage and everything has been posted in the base currency.

In this case you need to enter the amount received and then create and invoice or credit note for the exchange rate variance and post that to the account and match off.
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chopin_fanatic
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Re: Exchange rate variance

Post by chopin_fanatic » 22 May 2017, 11:05

Ok that makes sense.

Thank you.

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