Problem: How can I record a payment for an invoice when the invoice and payment currencies differ?

Solution: It is possible to pay a document in a different currency. For example, if the invoice is in USD and the payment is made in AED, refer to the screenshot below for guidance on handling this situation.

The invoice is issued in USD, which matches the currency specified in the company's contract.

Add all the relevant details, and post the document. The below will create the trade payable balance, USD 2,590,000 and AED 9,511,775.

Dr Goods             

Cr Current Trade Payables

To record payment, create a Bank Payment document in the selected payment currency, ensuring it aligns with the currency of the designated bank account or petty cash.

In the Payment Details tab, select the appropriate contract and the Invoice received document. This will automatically calculate the corresponding amount in the contract currency using the current exchange rate. 

3. Check your actions by generating report.


Or create a Statements of Accounts document.

Instead of a bank payment, a cash payment can also be created. Ensure that you use Petty Cash with the currency set to AED under Cash Account.

Likewise, an invoice can be paid in a different currency by creating a receipt (cash/bank/cheque) document in the currency that corresponds to the bank account or petty cash currency.

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