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Ace_Huss


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Treatment of difference in foreign currency payment bounce back
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We made a foreign currency payment from Silicon Valley Bank for a USD invoice which bounced back a week later however the amount returned to the account is lower than the original payment due to FX difference. I'm unsure on how to treat the two transactions on the bank ledger in Xero as the credit and debits don't match so I can't assign them to a control account. 



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Wasser


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www.accountingweb.co.uk/any-answers/difference-in-foreign-currency-payment-bounce-back

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Dos Master


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There would be an additional debit entry to realised currency loss expense account.

 

First Entry when invoice paid:

DR Expense 

CR Bank

 

Entry for Bounceback 

DR Bank

DR FX Realised Loss

CR Expense

 

Hope this helps



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