[Zoho Books] How to Match Payment Received in Foreign Currency?

[Zoho Books] How to Match Payment Received in Foreign Currency?


When a bank feed is matched to a transaction, Zoho Books only displays transactions in the same currency as the bank feed.  To rectify the issue of the difference figure between payment made and payment received due to foreign exchange rate captured during payment made by a client and payment received by the bank is merely to edit the currency exchange rate used upon receiving the payment.

Following is the solution:

 a. The amount received seen in the bank statement shall be divided with the amount in the invoice to get the exchange rate used.  
The amount on the invoice, for example, is $4,200. MYR18,438 has been received
Use: 18438/4200 = 4.39 to determine the exchange rate.
b. Go to the specific Payment Received or Payment Made record for that invoice, and click 'Edit'.
c. Then, you can see the option to edit the currency at the top of the item table, click edit and enter the exchange rate that you have calculated from (a) and click 'Save'. Now the system should be able to accurately suggest transactions for your convenience.


    • Related Articles

    • [Zoho Books] Enable Payex with Zoho Books

      The first of its kind in Malaysia, Payex integration with Zoho Books enables you to accept online payments right from your accounting software! Your customers can now make payments through local Malaysian banks via FPX, credit cards and ...
    • [Zoho Books] Bank Connections for Malaysia

      Zoho Books & Yodlee Zoho Books works with a third-party service provider called Yodlee - a major online banking solutions service provider. It is an online banking solution provider that connects to thousands of online banking websites and financial ...
    • [Zoho Books] Payex Registration

      Zoho Books is now integrated with Payex - a Malaysian payment gateway provider with attractive rates. This means that you can now get your customers to make online payments through the invoices issued from Zoho Books and have them marked ...
    • [Zoho Books] How To Change Payment Gateway

      To change the payment gateway in Zoho Books, it only can be done in the Invoices module. Please refer to the below steps: 1) Go to the Invoices module. 2) Tick the invoices that pending for payment (up to 25 invoices) 3) Click 'Bulk Update' 4) Select ...
    • [Zoho Books] How To Create Analytic For Each Balance Account

      The analytic for each balance can be generated in Zoho Books by using the report 'Time to Get Paid'. This report can be generated in the Reports module under section 'Payment Received'.