Following on from this thread, I am having some real difficulty in knowing how to deal with a transaction I carried out today, I just have no idea how to approach this issue at all. Following represents step by step transactions and the result at the end.
- Create an purchase order for $1494.50.
- Convert to purchase invoice for inventory.
- Click spend money, check and pay…
- Result found to be a massive overpayment! It converted the USD to pounds in bank account.
- Delete bank entry, click spend money and enter payment made in GBP. Total £901.36. This is the figure calculated by Paypal when completing the transaction and is what has left my bank.
- Find I’ve now made an overpayment to the supplier for $33.22. This is due to Paypal exhange rate differing from real exchange rate.
- Attempted changing exchange rate to that of Paypal’s in settings but found, not only was there still a discrepancy of 0.01p but it also changed the amounts on a previous order with same supplier!
- Having reset the exchange rate back to normal I am left with trying to find a way to account for the $33.22 difference.
Please bear in mind, I’m an engineer, not an accountant. I’m sure there’s an easy way to deal with this but I don’t wish to muck my books up any more!
Hope someone can help. Thank you.