1.        The following bill in GBP was process in a company with base currency as Euros.

2.        You are paying this invoice from your Euro bank account. Click on PAY when on the invoice, this will open the Checks and Payment screen. The invoice with show in Euro's at the converted amount on the transaction         date it was processed. 

3.        The amount that was processed on your bank account was 13.00 euro. Type in 13.00 in the payment amount. Your cash account is also your euro bank account.

4.        You have to work out the cross rate between the 13.00 euros and the 10.00 GBP you are paying. 13/10 = 1.30 Type in the 1.3 in the cross rate field.

5.        Process your payment

6.        Go to financial detail to view the gl batch that was processed. You will the that the foreign exchange loss/profit was calculated correctly.

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