Recording a payment

Open Sales then Payments, or record the payment from the invoice itself.

A payment distinguishes three amounts: what CREDITS the account, in the account currency; what SETTLES the invoice, in the invoice currency; and what enters treasury, in your company currency.

Paying into an account in a currency that is not its own is REFUSED, never converted: an exchange is a separate operation, with its own rate and fees.

The gap between the rate frozen at invoice issue and the rate at payment is recorded as an exchange gain or loss. Without it, an invoice in another currency would never settle exactly and would stay partial forever.

The accounting entry is posted AFTER the payment is recorded. If it fails, the payment is not lost: it is set aside to be reprocessed.

The accounts themselves are managed under Treasury.