How do I register a payment in a foreign currency?

article ID: 1004545 


It is possible to register a payment in a foreign currency within both Journal Entry and the Customer Ledger.

In order to register the payment in a foreign currency using Journal Entry:

1. Click View- accounting- Journal
2. Click the New Icon, to create a new journal.
3. Select Bank payment/receipt in the Journal type drop down menu.
4. Enter the appropriate Nominal Code, for example 1100 and click Enter. Select the appropriate customer and click Ok.
5. Choose the appropriate invoice details in the space provided. This window shows the customer ledger and therefore there may be several open items for the customer. That will appear automatically.
6. After you have ticked the appropriate invoice, the payment window opens. Add in the payment in the customers currency
7. Click Ok.
8. Enter in the corresponding Nominal code, for example 1200 Bank current account.
9. If the invoice amount is different than the payment received, the difference will be posted to foreign exchange gains or losses.


In order to post this through the customer ledger:

1. Click view- accounting- customer ledger.
2. Find the customer that you have received the payment from.
3. Click the appropriate entry and click the receipts payments icon.
4. This opens a window with the payment details. Enter in the appropriate information and click ok.
5. Ensure that the correct account and Pay date are selected.
6. Click Ok.
7. The program has now automatically posted this journal to the ledger. A window will appear with the entry number into the nominal ledger.


Query words: foreign currency, foreign, currency, payment