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Chapter 14: Using Foreign Currencies > Banking on Foreign Currencies

Banking on Foreign Currencies

Essentially, banking tasks with foreign currencies are no different to the same tasks in sterling, although you have additional boxes on some of the screens that highlight the exchange rate, and you see references to the foreign currency.

Customer receipts and supplier payments

When dealing with businesses and customers in foreign countries, you expect to receive and send invoices and payments in different currencies. For example, if you’re sending customer invoices to America, you send the invoice in US dollars and you expect to be paid in US dollars.

remember.eps The important thing is to process the transaction in the same currency from the customer or supplier account through to the bank account.


  

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