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Franki44
May 11, 2023
Question

What is best practice for tracking conversion gain for multi currency invoicing

  • May 11, 2023
  • 1 reply
  • 0 views
I invoice in USD - then funds sit in a USD holding account until I transfer at chosen conversion rate. Do I need to insert conversion for invoice and payment OR can I track the gain on the bulk transfer conversion from USD to CAD.

1 reply

J
JamesM4
May 11, 2023

 Hello Franki44,

 

Thanks for connecting with us here in the Community. QuickBooks is an easy-to-navigate program that helps you to manage your accounting with ease. I'll be glad to share more info so you're on the right track with your work. 

 

In order to accurately record your transactions, I highly recommend consulting an accounting specialist for expert suggestions. This ensures your books remain accurate while you continue to manage your work with peace of mind. You can also get in touch with a professional using this link here. Other accounting professionals are able to see this post in the Community and this will allow them to chime in.

 

Let me know if you have questions in the comments below. I'll be one message away.

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