How to mark an invoice paid which was created a different currency?
Recording the payment for an invoice which was created in the currency other than your base or default currency can be tricky, but nothing to worry about as Billy is always ready to help. Here is the procedure which you need to follow to mark the invoice paid and record the transaction properly.
You will need to mark the invoice paid by entering the payment. Please open the invoice and then click on the Enter Payment button (top right of the screen), that will bring up a popup screen where you will need to enter the actual amount which you have received and you will be asked to mark the difference in amount (please select bank fee) and then click on Enter Payment. This will mark this invoice as paid. Now, you will need to go to your bank reconciliation page and you will see a Paid Invoice in the unreconciled entries on the right hand side, simply drag and drop the invoice next to the transaction (in the middle of the screen) and click on Match.
In this example, we created an invoice for AUD 500 which equals to USD 378.93, the reason we entered the payment for USD370 is because we wanted to account for any bank or transfer fees which were involved while getting paid in a foreign currency by your bank. So, this difference will be accounted for as a Bank Fee.