Sage Accounts Professional - Foreign Payments

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Sevren
Sevren Registered Posts: 101 Dedicated contributor 🦉
in General accounting discussion
Hoping that somebody can help me as I am not making progress with support - I have a supplier set up in USD, invoices entered in USD and now I want to make payment. In QB I would just make a payment from a GBP account but enter the appropriate exchange rate - Sage is having none of it and seems to be saying that it will only accept payment from a USD bank account !! I must be missing something otherwise it is pointless !

I would be grateful for any guidance or if my worst fears are confirmed, then a work around.

I still don't 'get' Sage's popularity it's expensive and not very easy to use. I desperately want to ! I feel like an atheist at a clambake.

Many thanks for any help !

Comments

  • Hasan.Ahmet
    Hasan.Ahmet Registered Posts: 87 Regular contributor ⭐
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    You're not missing anything.
    That's how it is with Sage.
    To get round it, you can set up a memo $ account, pay into that from £ account and then pay the supplier from memo $ account.
    As many off the shelf packages have not been designed by accountants,
    they discover the shortcomings as they go along and develop it that way.
  • Kecak
    Kecak Registered Posts: 50 Regular contributor ⭐
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    Sevren wrote: »
    Sage is having none of it and seems to be saying that it will only accept payment from a USD bank account !!


    That's really odd, it's almost as if their support know how their own program works.
  • Sevren
    Sevren Registered Posts: 101 Dedicated contributor 🦉
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    Many thanks Hasan, I will give that a go.

    Ke cak, I was refering to Sage the software not Sage the company

    The latter clearly don't know how it works or they would get it working properly without work arounds...
  • elging
    elging Registered Posts: 17 New contributor 🐸
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    Sage and foreign currency

    Its true, the best way is via setting up a USD bank account. Just be careful though because the program version I use does not allow corrections in anything other than base currency. ie you can't go into corrections and edit any foreign currency entries. Also the reports only come in base currency flavours, to get a USD aged debt/cred you would probably need to talk to the nice guys at sage report designer:cool2:

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