On UK sage, you would post the GBP bank payment amount to the inter company loan account.
UK sage:
Cr Bank £100 DR InterCo account £100
If you are going to transfer the money from the Belgium account to the UK account, to repay the loan, your Belgium bank statement will tell you the Euro value.
On UK Sage:
DR Bank £100 CR InterCo account £100
(if there is an exchange rate difference on the transfer (lets say £101 hit the UK bank) you can leave it sitting on the UK loan account or write it off to exchange rate difference code at 79XX)
On Belgium sage:
Clear the supplier invoice with the value that's on your Belgium bank statement (the money you sent the UK account)
Again, you can write it off to exchange rate difference code at 79XX
If you are not going to repay the UK company, you can create an adjustment bank account, on Belgium sage, to clear the supplier invoice at the Euro value shown on it. You would then do a journal from this account to the intercompany loan account:
DR adjustments bank account CR InterCo account.
Hope that makes sense!
-- Edited by FoxAccountancyServices on Saturday 26th of July 2014 12:53:46 PM
