I would appreciate guidance please on how to record the following:
I issue an invoice to an overseas company in my local currency i.e 100
The overseas company pays this invoice in my local currency, but the amount I receive varies by a small amount, either more or less, ie, I receive 102 or I receive 97- I guess the exchange rate used by the company and bank vary.
They do not expect a credit or debit because of this fluctuation.
I record the actual payment received on the invoice in receipts/payments which balances with my bank account.
When I issue the next invoice manager shows either a credit or debit related to the variation which I do not want it to do.
Can anyone advise the best way to deal with this, thanks