Sage IA - Currency Fluctuations ...

[AATnewbie]

Hi there (again!),

Our company has been supplying services to an American company.

Due to currency fluctuations from time of invoice to when it's been paid, we've either received too much, or under the anticipated amount.

So, let's go for an example:

Invoice for £1000
Received £1200

How do I mark this in Sage IA?

Do I do similar to my question of yesterday with respects to Bank charges (which incidentally I have to do also :) ).

a) CR Customer Ledger with 1200, then journal 200 to a Currency Fluctuations Nominal Code?

or

b) Not sure!

Also, if it's a loss

ie, invoice 1000, received 900

What do I do then ...

Many thanks for listening .... I am determined to get the hang of this :)

[johndon68]

On the customer account raise and invoice or a credit note note depending on the way the fluctuation has gone to a Currency Fluctuation nominal code.

So, in the first example you gave, raise an invoice for £200 then pay both the original invoice and the new one.

John