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L
littlehouse-book
March 12, 2019
Question

Can I create a cheque in usd funds?

  • March 12, 2019
  • 1 reply
  • 0 views

This situation is, my client issued a payment for an invoice, however the payment was in Canadian dollars not USA so the invoice payment is actually short.  So there is a remaining amount due to the supplier which is a US based supplier.  The supplier was also changed a $25.00 usd bank fee to exchange the currency.  

How do I issue a USD cheque for the outstanding amount in US dollars?

Do I need to turn on multi-currency and create the supplier with a USD Payment/Billing setting, then generate a cheque for the outstanding amount?

1 reply

A
Anonymous
March 12, 2019

Hi there, littlehouse.book,

I'd be glad to point you in the right direction for this concern.

Turning on the multi-currency feature wouldn’t be the best option here since it only covers new vendors, customers and future transactions.

In situations like this, you can issue a Canadian cheque with the USD converted amount on it to cover the outstanding balance.

For instance, if the outstanding balance from the supplier is 50 USD, you can convert it to Canadian amount which is CAD $64.95 and write it on the cheque.

To easily convert the amount from US dollar to Canadian, you can search a currency calculator available in google.

Stay in touch if there's anything else I can help you with. 

L
littlehouse-bookAuthor
March 12, 2019
Hi, thank you for your response, however, the cheque amounts needs to be in USD funds not Canadian.
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