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noraknotes
Level 2

Crediting a USD AR and debiting a EUR AR

Is there a way to do this? We created a USD Accounts Receivable back in 2019 but the money was reimbursed in EUR. The repayment transaction downloaded through the bank feed but I can't "match" it. I'm trying to figure out how to account for this so I can do my reconciliation. 

 

Thanks! 

Solved
Best answer January 21, 2022

Accepted Solutions
John C
QuickBooks Team

Crediting a USD AR and debiting a EUR AR

Hi noraknotes If you'd like to account for a transaction that is a USD transaction that has been received into a EUR account you will have to: 

Create a contra bank account in your home currency > transfer the amount from the EUR to the contra account using the correct exchange rate > then create a transfer from the contra account to the UD bank account again using the correct exchange rate, the contra account should be zero > then receive payment on the invoice.

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1 REPLY 1
John C
QuickBooks Team

Crediting a USD AR and debiting a EUR AR

Hi noraknotes If you'd like to account for a transaction that is a USD transaction that has been received into a EUR account you will have to: 

Create a contra bank account in your home currency > transfer the amount from the EUR to the contra account using the correct exchange rate > then create a transfer from the contra account to the UD bank account again using the correct exchange rate, the contra account should be zero > then receive payment on the invoice.

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