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Hi,
I do accounting for an individual who has properties in USA. These properties have a corresponding USD account and USD expenses. There are funds transferred into the USD Bank account from a CAD bank account periodically.
I am confused how Simply…
We have a USD account for Paypal. We enter the relevant date and exchange rate in the list used for that purpose (under Settings / Company / Currency). For example, at 30 Dec 2016, the Bank of Canada rate is C$1.3427 = USD$1.00, and in the FX list, we…
Should we actually be using 2 different accounts for exchange gain vs exchange loss? It doesn't matter for the bottom line, net income will end up the same either way: Hmm... seems you can only configure one for the program to use automatically for adjustments…
Similar too this post - it seems Sage does an automatic transaction if it finds a 0 balance at year end because it is quite obvious that if an account has $0 US funds in it, it must equate to $0 CA funds... https://sagecity.na.sage.com/support_communities…
I operate in CAD but purchase some inventory from suppliers that invoice in USD. Previously invoices from USD suppliers were being input as CAD with the exchange being calculated manually. I have setup duplicate suppliers with a US identifier and set…
Last Wednesday, We went through an example of how to adjust a foreign currency bank account and to bring back the correct home currency balance. Today, we are going to do another example but the assumptions will be slightly different from the first one…
