g2685516 said:

I have setup duplicate suppliers with a US identifier and set their currency to USD.

That's the best way, Sage 50 doesn't allow multiple currencies from a single supplier (or customer)

g2685516 said:

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?

Press control-J to see the 'home currency' (CAD) amount that will be posted in the journal entry.  

You may have to tweak the exchange rate up or down a little, to get the rounding to come out the same as the bank did, in order to post the correct USD to the payable, with the correct CAD to the credit card.

We started posting these as a separate USD invoice (Using Bank of Canada Noon rate), and USD from CAD credit card payment using the credit card statement rate.   If it's a prepayment, the USD payment can be posted in the Purchase Order screen (if the user settings in Sage 50 allow payment entry.

g2685516 said:

I have setup duplicate suppliers with a US identifier and set their currency to USD.

That's the best way, Sage 50 doesn't allow multiple currencies from a single supplier (or customer)

g2685516 said:

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?

Press control-J to see the 'home currency' (CAD) amount that will be posted in the journal entry.  

You may have to tweak the exchange rate up or down a little, to get the rounding to come out the same as the bank did, in order to post the correct USD to the payable, with the correct CAD to the credit card.

We started posting these as a separate USD invoice (Using Bank of Canada Noon rate), and USD from CAD credit card payment using the credit card statement rate.   If it's a prepayment, the USD payment can be posted in the Purchase Order screen (if the user settings in Sage 50 allow payment entry.

Thanks for the reply. I will just have to slightly adjust the exchange rate to get the correct bottom line value in CDN from now on.

If you do a lot of purchasing in USD with a credit card, most banks offer USD credit card and current accounts. Because card issuers charge a hidden exchange fee, on top of the exchange rate (added / included in the rate)

With annual card account fees of $50 and exchange fees at 2.5%, $2,000 of annual purchases (in CAD equivalent) pays the fee for the extra account.

...And makes posting the card purchases simpler / easier since there is no currency exchange happening with each transaction.