Exchange rates and book-keeping?

Sarah Williams

15 May 2010 at 18:14 · Viewed 1560 times

I would like your advice on the following, please. In January, you advised another forum member who had an English client to take the exchange rate on the date the invoice is being paid. Should this be the business or tourist exchange rate?

As all my clients are English, should I record the invoice amount (£) and amount received (€) in my monthly accounts or, as I intend to transfer money from UK to France every few months. Can I use the rate on the transfer day?

Answered