Whenever I receive an invoice it’s paid immediately. Whenever I issue a sales invoice it’s always paid into the same currency account, e.g. a EUR invoice is paid into our EUR bank account and a GBP invoice is paid into our GBP account. Therefore you’d expect no currency gains or losses.
However we do have currency gains/losses and I can’t figure out where they’re coming from because I can’t click on them from the Currency gains (losses) journal. How can I figure out where I’m going wrong with this?
The only other discrepancy I can think of is the difference in the exchange rate I’ve input into the system, and the exchange rate used in transactions. All I’m doing is looking at www.oanda.com and using the exchange rate for a particular day and putting that into Settings>Exchange Rate. Is there a way I can be more accurate with this e.g. specifying the exchange rate at transaction level, because it’s not really currency gains but a difference in exchange rates used.