Sales Abroad

You sold goods to a customer abroad. At the time of sale the goods were valued at the Sage Line 50 equivalent of ú200.00. When the customer paid for the goods, you actually received ú195.00, due to the fluctuations in the exchange rate.

To Record a Sale Abroad

1. Enter a batch customer invoice using the Invoices option from the Customers window.

Enter the net value of ú200.00, with the appropriate tax code and sales nominal code.

2. Enter a customer receipt for ú195 using the Customer option from the Bank Accounts window.

3. Enter a batch customer credit note using the Credits option from the Customers window.

Enter the net value of ú5.00 (i.e. the difference between the invoice and the amount paid), the Exchange Rate Variance nominal account (e.g. 7906), and the tax code T9.

4. Allocate the outstanding invoice to the credit note using the Customer option from the Bank Accounts window.

Enter the CustomerÆs account reference, but leave the cheque balance as zero.

Pay both the Invoice and Credit Note in full, and then click Save.

You have now recorded your sales invoice, the payment made and the difference between the two of them.