Question

Invoiced in CAD and received payment in USD

Forum|Forum|6 years ago
December 18, 2019
3 replies
0 views

I invoiced a customer for 3 invoices totalling $139,000 CAD. However, he sent the payment as $138,933.86 USD, which the bank converted at a rate of 0.7461016. How do I receive payment for the 3 invoices? When I try doing it, it tells me "Transactions can have only one foreign currency at a time". My home currency is CAD. Thank you.

QuickBooks Online

J

JamesM

Hi there,

I appreciate you reaching out to the Community. It's important you're able to record the transaction correctly and I'll be happy to help.

Based on what you've described, you'll need to click on the Plus icon > Receive Payment > enter the amount you received in CAD, not USD. What you're doing here is converting the amounts from USD into CAD. While you're on the Receive Payment screen, select all 3 invoices. After saving this transaction, the customer will have a credit of the left over amounts. I did the conversion from USD to CAD and based on the exchange rate you provided, I came up with 1.3404 which turns to $186,213.06 which the amount the customer paid you in CAD.

Let me know if this helps. Otherwise, if you need further assistance, please contact our support team using this link here.

M

Marie Hazel_2020

hello good morning,

i've been reading the preview on the QnA.

in addition to this situation, 1 customer, with CAD and USD account.

they paid more than in their USD account, so from their over payment USD, they want to apply it in their CAD account with the present rate. once applied to their CAD account, what will happen to the floating amount in their USD account which has been applied to their CAD account?

how are we going to reconcile it?

thanks

hazel