Re: [SL] Cross currency invoice entry

[Ed W <li...@wi...>]

Dr Eberhard W Lisse wrote:
> Simple,
>
> paste the slip from your USD purchase onto it and account the amount in
> Sterling. That way even the bank charges get accounted.
>   

Well, that's what I used to do, but its getting to be too time consuming 
to have to recalculate the whole invoice with the new rate.  Also we 
have 30 days to pay, so the point the rate comes back is usually much, 
much too late.

The solution is to pick a rate, then post in an accrual entry to an FX 
control account, but I just can't quite get my head around the required 
entries...

Regards

Ed W