Hi,
My home currency is EUR and I have 1 bank account which only allows payments made in EUR (note that this bank account is not connected to QB so I make all transactions manually).
I received a supplier bill in SEK. As I cannot pay this supplier in SEK due to my bank's account restrictions, I have paid this supplier in EUR.
As suggested in one of the articles on QB Help Centre, I have created a dummy SEK account in QB which I used to 'pay' the bill with in QB. However, as the exchange rate changed between the date of receiving the bill and the date of paying the bill, an exchange gain or loss is incurred.
In my case, the SEK weakened, which means that the EUR amount that was recognised upon receipt of the bill was higher than the one upon payment and therefore an exchange loss should be recorded.
My problem is this:
When using the regular module 'Make payment' with the dummy bank account, QB automatically converts the SEK amount on the date of payment and the amount that hits the dummy account excludes the exchange loss. This is automatically recorded as an exchange gain, because when comparing the dummy to the AP ledger, it looks as if we have paid less.
Is there a workaround for this issue?
The help article didn't mention anything about potential exchange gains or losses, but someone else must have experienced something similar?
Thanks in advance!
