When using the capturing a foreign currency function in Fincon Accounting, the money being received needs to be in a different currency to the bank account it is being received in.
Watch this video to see how to capture a foreign currency received or follow the steps below it.
Navigate to the correct window
- Navigate to Debtors / Debtor Payments / Foreign Currency Received.
Enter the payment details
Bank account details
- Enter the bank account number in the Bank Account text box.
- Enter the amount of the payment received, (in the currency of the bank account it is being received in), in the Amount Received text box.
- Enter the payment period in the Payment Period text box.
General details
- Enter the date of the payment in the Date text box.
- Select the payment type from the Payment Type dropdown list.
- Enter the cheque number in the Cheque Number text box, if required.
- Enter the name of the customer in the Name text box, if required.
- Enter the drawers ID number in the ID No text box, if required.
- Enter the credit card number in the C/Card No text box, if required.
- Enter a comment in the Comment text box, if required.
Payment details
- Enter (or select) the appropriate customer account in the first open line in the ACCOUNT column.
- Enter the amount paid, (in the currency of the payment, not the bank account) in the AMOUNT column.
- Select the line in the OUTSTANDING column of one of the invoices that the payment pertains to.
- Press F3 to allocate the payment wholly or partly to the selected invoice.
- Repeat for all the invoices that the payment pertains to.
You can auto allocate the payment by clicking the Auto Allocate button, this is usually a method to consider if the payment balances with the outstanding amount. The payment will be allocated from the oldest transactions to the newest transactions.
Save the receipt
- Click the Accept button.