Reconciliation for non GBP currency
- Open up a Clearing Account bank account (will need to be in GBP)
2. Navigate to Sales Invoices and record payment
3. Make sure that the exchange rate used produces an exact match to what has been deposited in your GBP Bank account (you will need to manually change this in the exchange rate section)
4. Select the correct payment date and choose the bank account to be a ‘clearing account’.
5. Then click record and your payment will show it has been paid.
6. You will then need to go to your Banking page, and you will see the payment amount in the clearing account:
Click on the Banking account you recorded the payment into. In this example it is the HSBC Bank Account.
In the bank account you will find the £1,472.40 deposit. Select the option to ‘transfer’.
Then choose the clearing account and click the blue transfer button.
6. Then go to banking and into the clearing bank account. You will need to go to right hand corner and select ‘reconcile’.
Go ahead and select both transactions to reconcile and scroll to the bottom and click 'finish'.
At the bottom of the screen a notification the reconciliation has been successful will pop up.
This is how a non GBP settlement is reconciled.
If you have further questions, feel free to reach out to us at email@example.com. We would be glad to help you.
Hint: If you are in chat and wish to view the article outside of the chat window, please click HERE