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Setting up a customer with a different currency

  • 1.  Setting up a customer with a different currency

    SILVER CONTRIBUTOR
    Posted 19 days ago
    Good Morning,
    We are a Canadian company that has a customer requesting to be paid in USD.  How do I set up a customer with a different currency?

    Thank you,


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    Lynsey White
    Fireball Equipment Ltd.
    Edmonton AB
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  • 2.  RE: Setting up a customer with a different currency

    Posted 19 days ago
    1) Is this a "Customer" or "Vendor" unless we're talking about credit memos that are paid out to the customer. Typically, you get paid by customers.
    2) Go to the customer card and pick the currency USD. Make sure you have setup your currency table and you have an exchange from your LCY (CAD) to USD. You have to maintain this exchange every time you make or receive a payment.
    3) Your G/L transactions will always by in your LCY and you can report in the customers USD.
    4) All period end reporting will be in your LCY.

    Maintenance is involved, pretty straight forward.

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    Alfredo Zelaya
    Sr. Systems Analyst
    Megadyne Americas LLC
    Fairfield NJ
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