Two currencies and exchange rate difference
Diyor
Member Posts: 4
Help, please. I have two accounts one in CAD and another in EURO. I made a purchase of EURO from CAD acc and debited EURO acc. After that, I paid to the supplier in EURO and did customs clearance in CAD. Obviously, I have an exchange rate difference as well. Please kindly advise how to record these transactions.
Thank you in advance,
Diyor
0
Comments
Hey @Diyor! At the moment Wave is not as robust as it will be soon for accounting for multiple currencies.
But the good news is, we do have a really thorough article going over for accounting and categorizing for multiple currencies: https://support.waveapps.com/hc/en-us/articles/208624186-Accounting-for-foreign-currency-transactions
I'd recommend giving it a read - it is fairly complex and I think if I summarize it here I'll be leaving out some key details. But if you check it out and it doesn't help, let me know!
Hi Samd. Thank you for sharing. I will let you know. Regards, Diyor