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Join nowHello there, @SB8
Thanks for posting in the Community space. I'm here to guide you were to record the transaction in QuickBooks.
First, we'll have to create a customer with GBP currency, here's how:
Then create the invoice, here's how:
Once you're done, you'll need to receive the payment using USD Bank.
Also, the exchange gain and loss are automatically recorded depending on the exchange rate of your invoice.
I'm adding these resources for reference:
Let me know in the comment section down below if you have any other questions. I'm always happy to lend a helping hand.
Record the transaction, as an exchange for us currency, and a a new cash transaction, with a the cash transaction charge tax as local amount, the person you sent the invoice should expect it to be taxable amount trade only on profit, .
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