Sometimes you might sell products or services in a foreign currency that differs to your base currency (base currency is set when you select a zone for your Saasu file).

In such circumstances you may receive slightly more or less funds than invoiced because of exchange rate (FX) differences. In this example you receive $102 for a Sale that was $100. $2 being an exchange rate gain.

1. Setup Accounts called:
   • Income:Foreign Currency Gain
   • Expense:Foreign Currency Loss
   • Asset:Clearing Account

   Speak to your accounting advisor to establish what you need for your specific circumstance. In some circumstances this might be one Account called Expense: Foreign Currency Gain/Loss (example only).

2. Apply $100 payment to the Sale using the Asset:Clearing Account
3. Create a new Journal entry with the following entries:

Use the appropriate tax codes for your specific circumstance against the Income: Foreign Currency Gain line item in the Journal entry