One of my clients has paid a supplier through their euro world first account. I have not yet got the invoice but would like to put the payment on account onto Quickbooks.
When I have done a payment on account in the past I have posted the payment as an expense to the creditors control account but as the creditors control account is in sterling it will not let me post here. It will also not let me set up a euro creditors control account.
When I have posted income which we have received in advance of an invoice I have posted it as a payment to the debtors control account and this has worked fine but I am unsure how to resolve the above.
It would be great if you could let me know how to set up a Euro Creditors account or the correct way to post this?
The Euro Creditors account automatically creates when enter the first bill which has a Euro supplier on it(you can not manually create it from the chart of accounts) You do have the option of creating a bill for a euro supplier>then going to more on the bottom of the transaction>delete.
You will then be able to go to expense and in the category when you type in creditors there will be a creditors-EUR option.
You can then use that to do the payment o n account
Any questions let us know