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Navneet Singhal
January 19, 2022
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Vendor Bill Foreign Currency Match with 2 transactions in Bank statement

  • January 19, 2022
  • 1 reply
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Hi,

 

I have a Vendor Bill in Foreign Currency.

 

I want to Match it against 2 transactions in the Bank statement in Home currency.

 

But as I match 1 transaction, the balance amount doesn't show the bill to match against 2nd transaction.

 

But If the vendor bills were in the Home currency then I was able to match it against two transactions.

 

So how to do it with a foreign currency bill.

 

Pls guide.

 

Regards,

Navneet

Best answer by Navneet Singhal

Thanks for getting back to us, Navnee.

 

Allow me to share additional information about matching foreign currency bill in the bank feed.

 

The bank feeds feature in QuickBooks Online will automatically identify and use your home currency. This time, let's make sure the transactions you're matching have the same currency. After you click the Foreign currency option, you'll need to double-check the date.  Make sure the bill's period is within the date range.

 

 

I've added these articles for some tips when matching transactions in QBO:

 

You can always tap me on my shoulder if you have question about matching transactions to QuickBooks Online. I'll be around to back you up. Stay safe!


Ok, I found my answer.

 

What I did is, I went to Expense, select the bill in foreign currency, click schedule payment and choose the date (when it was paid in the bank), and choose less amount (say 15000 was a bill, so I choose 14000 (equivalent to 1 payment in the bank in Home currency) and mark as paid). Then save. Then again open the bill, mark it as paid and the balance amount will reflect 1000 so I did that with the date of 2nd bank payment.

 

Now go to the Bank review tab, and find a match and you will match this to bill payment 1 and bill payment 2 for both bank payments. The currency will auto adjust.

 

This is a bit lengthy process but it works. QB needs to do something like allow match of 2 bank transactions with 1 foreign currency bill. Until then I have to use this method.

 

Regards,

Navneet

1 reply

JenoP
JenoP
January 19, 2022

Let me help with your questions about matching downloaded transactions, Navneet.

 

When managing online banking transactions, there's an option if you want to match it using the home or foreign currency. Here's how:

 

  1. Go back to the Banking menu and proceed to the For review tab.
  2. Look for the transaction and click on it.
  3. Click Find other matches.
  4. Select Foreign currency.
  5. Look for the bill and check the box before it.
  6. Click Save.

 

 

You can read more details about managing bank transactions in these articles:

 

 

Additional references are also provided here in case you might need them:

 

 

Feel free to visit and post more questions in the Community if you need anything else. We'll jump right back to help you always.

    N
    Navneet SinghalAuthor
    January 20, 2022

    Hi Jenop,

     

    thanks for the reply but the question is different from what u answered. I am already aware of matching foreign currency transactions. The question says to match 1 foreign currency bill with 2 transactions in the bank feed. Hope you will get the question now and will help in finding the solution. Thanks anyway.

     

    Regards,

    Navneet

    L
    LeizylM
    January 20, 2022

    Thanks for getting back to us, Navnee.

     

    Allow me to share additional information about matching foreign currency bill in the bank feed.

     

    The bank feeds feature in QuickBooks Online will automatically identify and use your home currency. This time, let's make sure the transactions you're matching have the same currency. After you click the Foreign currency option, you'll need to double-check the date.  Make sure the bill's period is within the date range.

     

     

    I've added these articles for some tips when matching transactions in QBO:

     

    You can always tap me on my shoulder if you have question about matching transactions to QuickBooks Online. I'll be around to back you up. Stay safe!

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