Re: [SL] Cross currency invoice entry

[Dr E. L. <el...@li...>]

The solution is to take the rate you get for buying the USD and to stick
the slip to the invoice which you file.

I have this occasionally when I pay by credit card. I take the amount
that the credit card debits from my account andit is only one simple entry.

el

on 1/24/07 8:48 PM Ed W said the following:
> 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