I operate in CAD but purchase some inventory from suppliers that invoice in USD. Previously invoices from USD suppliers were being input as CAD with the exchange being calculated manually. I have setup duplicate suppliers with a US identifier and set their currency to USD. When I put the exchange rate in that shows on the credit card statement/money order the calculation Sage does may be off by a cent or two. How do I go about correcting this so it matches with the bank statements?
Should the Track Exchange and Rounding Differences account be a completely separate account on it's own used only for that?
I am using Sage 50 Quantum.