With the Multi-Currency Customers feature, users can now set a base currency and additional currencies available for transactions with a customer. It is now possible to have transactions with a single customer in different currencies.
To illustrate how to apply payment to an Invoice in different currency, refer to the information provided below:
--Customer record's primary currency – Euro
--Open invoice's currency - Euro
--Unapplied customer payment currency - USD (assume that this is deposited in a USD bank account)
1. Navigate to Transactions > Sales > Create Invoices > List and look for the open invoice
a. Click View to open the Invoice
b. Click Accept Payment.c. On the New Payment page, click the Undep. Funds radio button.
c. On the Apply tab > Invoices sub-tab, tick Apply box next to the open Invoice.
d. Click Save.
2. Deposit the payment received in step# 1
a. Navigate to Transactions > Bank > Make Deposit.
b. On the Account field, select the bank where the payment was deposited. It should be the same bank as the customer payment.
c. Tick Deposit box next to the payment transaction created in step# 1.
d. Enter the amount in USD under the Amount (USD) column. It should be the same USD amount as the customer payment. e. Click Save.
3. Enter a Journal Entry to reverse the impact of the unapplied Customer Payment
a. Navigate to Transactions > Financial > Make Journal Entries.
b. Set Currency to USD.
c. Debit the Accounts Receivable account used on the unapplied Customer Payment. Make sure to select the customer's name on the Name column.
d. Credit the USD bank account on the unapplied Customer Payment. Amount should be the same USD amount.
e. Click Save.
4. Apply the Journal Entry against the Customer Payment
a. Navigate to Transactions > Customers > Accept Customer Payments.
b. Select the name of the customer in the Customer field.
c. Set Currency to USD.
d. On the Invoices subtab, tick Apply box next to the Journal Entry created in step# 3.
e. On the Credits subtab, tick Apply next to the unapplied Customer Payment.
f. Click Save.