US customer paid invoice by credit card

Question

Hi there, 
 Our company has customers in USA and we invoice them in US Dollars, they usually paid by credit card in CDN Dollars. I have set up the book as multi-currency and also the customers under US currency. My question is when we get paid, the Create Receipt window shows in USD amount, but they paid by credit card which shows CDN dollars on the bank statement. Could anyone please tell me how to enter the payment? 
 Thanks~

RandyW · Accepted Answer

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.

Keith L · Answer

Hi Amber126, 
 Gain/Loss on Foreign Exchange account is used if you have a sales invoice using exchange rate A but in receipt using a different exchange rate B. This usually happens when pay later is used as payment method in sales invoice. 
 In your second case, when you create sales invoice and the payment method is credit card, cash or cheque, it means the sales and the receipt of payment happens at the the same time. There is only 1 exchange rate used. Therefore, you do not see the Gain/Loss on Foreign Exchange rate account used. 
 For Sage 50, there is only one linked account for Account Receivable. 
 I do not see any major problem as the main point of your question is to make the US value has a Canadian value that is the same as the statement you receive 
 Hope this helps.

Sage 50 Canada

US customer paid invoice by credit card

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