How to change "converted amount" when recording a payment?

DjeliDjeli Member Posts: 2

I have a USD invoice that's been paid, and my account is GBP. I want to record the payment, but Wave won't let me edit the "converted amount", only the exchange rate. This doesn't make any sense to me - the information I have is the amount of money that has arrived in my bank account, not the exact exchange rate at the time it was paid.

Am I suppose to do the maths to work out the exchange rate? Why can't I just edit the final amount?

Comments

  • DjeliDjeli Member Posts: 2

    Bump... support told me to post here, how else can I get an answer? Is there a support email?

  • JulianPJulianP Administrator Posts: 904 admin

    Hey @Djeli !

    Have you checked out our "Foreign Currency Invoices and Bills" Help Center article by chance? If not, I suggest doing so as it will help you accurately record your invoice payments in Wave. Essentially, when recording your invoice payment, you can record the effective rate at which the currency has been exchanged to ensure the payment reflects what you received at the bank by using the "Exchange Rate" field. The Help Center article also sheds some light on how the currency conversion works and how Wave records unrealized gains and losses. I hope this helps.

    edited May 12, 2021
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