Posting of Foreign Currency transactions

Question

Hello, 
 I have a number of EUR suppliers whom i pay from GBP account. So I use the GBP account to pay supplier invoices that are entered In Sage in EUR. 
 In Bank feeds the transaction will appear still in the amount of EUR i.e. 602 EUR but the actual amount that has left the bank after conversion is &pound;519.07 
 When i go to bank feeds to post the supplier payment to ledger, I click on the transaction that is 602EUR and go to create. From Create I choose the bank payment and follow the completion process of all the way to the NETT Amount cell, here i enter the actual amount that has left the bank which is &pound;519.07 and as soon as i click SAVE i get this transaction appearing in the other window next to the (Bank Transcations window), and a notification that there is an unmatched amount of &pound;82.16 and so i can't Confirm Matches! 
 How do i post this foreign payments to ledger if these two doesn't match? 
 
 Kind regards 
 M

Anth Richardson · Answer

Hi, 
 Thanks for using Sage City. 
 Based on the scenario you've prevented, it looks like because you're trying to record a payment for an invoice in another currency - There will always be a discrepancy. 
 If you raise an invoice in EUR, then Sage will expect this to be paid with EUR too. 
 The way around that would be to record the invoice in the currency it'll be paid in, or record a bank payment to the invoice in the matching currency and then record the exchange of EUR to GBP as a separate bank transaction. 
 Either method will require you to discard the transactions from your bank feed and post them manually. Officially, foreign transactions are not supported by bank feeds at this time. 
 
 Please let us know if you need further assistance. 
 Regards, 
 Anth - Sage UKI

Sage Accounting UKI

Posting of Foreign Currency transactions

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