If you enter the USD amount with the exchange rate when you record a receipt from a USD customer to your CAD bank account, Sage 50 should calculate and post the Canadian $$ amount to the bank.

You can see what will happen before hitting post by clicking View | Journal entry, or pressing control-J

Your bank may explicitly show the exchange rate on your statement / acknowledgement / batch confirmation.

If you enter the USD amount with the exchange rate when you record a receipt from a USD customer to your CAD bank account, Sage 50 should calculate and post the Canadian $$ amount to the bank.

You can see what will happen before hitting post by clicking View | Journal entry, or pressing control-J

Your bank may explicitly show the exchange rate on your statement / acknowledgement / batch confirmation.

Hi RandyW,

Thank you for your help, it really helps me.

I posted two invoices today one is customer will pay later,  total USD amount of invoice is $ 987.81. Customer paid in $1070 in CDN. The preview entries are:

Dr   Accounts Receivable- Customer A   987.81(USD)

Cr   Sales- Parts -USD                               987.81

When I enter payment (lets say if customer A pays a week later), the entries are like:

Dr   Cash in Bank (CDN$)                         1070 ( CDN)

Cr    Accounts Receivable - Customer A       987.81

Cr    Gain/ Loss on Foreign Exchange             82.19

However, when I created a cash sale invoice, I chose payment method as paid by cash.

The USD amount is 259.8, customer paid by credit card in CDN $280.

Then the entries are like:

Dr   Cash in Bank (CDN$)            Foreign Amount US $259.8           280

Cr    Sales - Parts -USD                Foreign Amount  US $259.8                  280

This time the account Gain/ Loss on Foreign Exchange is not involved.

Is there something wrong I set with Accounts Receivable module? I can see there is only time difference of

payment, why the second one doesn't have gain or loss on foreign exchange?

PS~ my company used to have Business Vision,  we change to Simply recently. I remember in Business

Vision, we have two linked accounts, Accounts Receivable - CDN and Accounts Receivable - USD.

Now in Sage, I only set ONE Accounts Receivable linked.

Does this cause the problem?

Thank you in advance!