Paying a vendor with a bank check in foreign currency




Our only bank account is a US accounts, US$ is our base currency.

We use vendors (set to use C$) in Canada more frequently. What is the
preferred way to pay these vendors in Canadian dollars.

The online help "Foreign Currency and banking form" page states that "Checks
are written in the currency of the customer or vendor", which implies that
using "Write check", I should be able to print a check in C$ and use foreign
currency accounts for corrections later.

However, I cannot get the check form to print the Canadian dollars amount in
the invoice, it only prints in USD. What am I missing? Thanks for your help.



Tarun [MS]

Please ensure that you have multicurrency feature ON.
You can do via menu Company -> Preferences... -> Company Tab (first &
default tab).

To pay a check to customer/ vendor in foreign currency, ensure that the
customer/ vendor is created with same foreign currency.
Now, Banking->Write Checks.

Step 1. Select the Bank Account
Step 2. Select the foreign currency Customer/ Vendor you want to pay.
Step 3. Ensure the exchange rate for the currency is updated.
Step 4. Select the items/accounts against which payment is made.

You will see there will be US$ as well as foreign currency amount, shown
Now, you could use this check for the payment.

I hope, this information will be useful.

Tarun [MS]

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