Invoicing in foreign currencies not working

I just issued an invoice to an overseas client in US$
When I went to receive the payment using the optional field in receipts for US$ currency, Manager decided that invoice value is $0?!?!!?!

Could someone explain how I am suppsed to receive currency in $US without having to manually reverse engineer whatever Manager thinks the current exchange rate is?

This is ridiculous to have a bug like this. A field that is specifically there to allow you to receive invoices in a different currency that doesn’t actually do anything.

  1. Was the bank or cash account into which you received the money denominated in USD?

  2. Was the customer denominated in USD?

  3. What do you mean by "Manager decided that invoice value is $0?!?!!?! ? It sounds like whatever happened occurred while you were entering a receipt. How do you know Manager thinks an invoice is worth a different amount? Screen shots of Edit screens would help understand what you are experiencing.

  4. You are not expected to reverse engineer whatever Manager thinks the current exchange rate is, because Manager has no idea what exchange rates are unless you enter them under Settings.

  5. It sounds like you may have encountered an option to force an equivalence of different-currency amounts when receiving money posted against a receivable. The purpose of that is to prevent the receivable from becoming under- or overpaid if you change exchange rates in the future. Instead, differences due to exchange rate fluctuations will be posted to Foreign exchange gains (losses).

  6. Whatever you are experiencing, I seriously doubt it is a bug. No one has reported a bug in this area for a long time. I think you do not fully understand Manager’s behavior and required procedures when dealing with foreign currencies.

Thanks for the reply,
cusromer was denominated in $US
the actual bank acount was in australian dollars, but I think you’re asking about some setting which detemines the currency in Manager? I don’t know where this setting exists.
there is an exchange rate entered under settings
Basically, what I’m saying is if I enter a value in the $US field in the receipt, the receipt has no dollar value. If I enter a value in the normal field, the receipt is denominated in AUD

I’m sorry I don’t understand the section about receivables at all.

I’d really just like to know what the proper process is for receiving income on an account where the client is denominated in a different currency, because entering a receipt like normal doesn’t seem to work.

If I don’t understand it, and it is as obvious as mud, and if there is no help file that I can find for it … I’d just like to be able to mark this invoice as paid, not undertake an undergraduate degree in accunting.

When processing a receipt against the USD sales invoice (from a base currency bank account - say AUD) both amounts must be entered viz:

The other option is to only enter the base currency amount, but then you must enter the exchange rate in settings for the date of the receipt


That’s just not possible.

There are three variable here (USD Amount, AUD Amount & USD/AUD) and manager needs the user to input two before it figures out the third.

What you’re asking is for manager to make assumptions – which are most likely going to be wrong.

If manager allows incomplete inputs, you’re definitely going to face a problem with foreign exchange differences and you will never be able to track partial payments in foreign countries.

This isn’t a specific problem of manager, it’s just how foreign currencies work.

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There is actually a bug which I just reported at which may also give @adamford an idea how to get paid in Forex as I explain the essential steps to follow there.