How is the exchange gain or loss calculated?

easySales compares what the money settled at the invoice's own rate with the base-currency amount you entered from your bank. The difference is the gain or loss.

Does the customer see the exchange loss?

No. Their receipt and statement show payments at the invoice's rate, in the invoice's currency.

Does an exchange loss leave a balance on the invoice?

No. The invoice is settled in its own currency; the loss is recorded only for your own books.

Why is Amount in SGD already filled in?

It starts at today's automatic rate so you have a figure to check. Change it to what your bank actually credited.

Can I correct the SGD amount after recording a receipt?

Not on the receipt: a recorded receipt cannot be edited. Void it and record it again with the bank's figure. See Receipts.

Where can I see all exchange gains and losses for a month?

On the Invoices list, ··· → Exchange differences, with Settled between set to the month.

Why is a receipt listed under Not measured?

It was recorded without its base-currency amount, so there is nothing to measure against. easySales does not estimate it.

Exchange differences

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When a customer pays a foreign-currency invoice, what reaches your bank in your base currency is rarely exactly what the invoice was worth at its own exchange rate. The difference is a realised exchange gain or loss. easySales measures it for your own records; the customer never sees it.

How it works

Issue. The invoice’s rate is fixed, and its balance is carried in your base currency at that rate.
Payment. When you record the payment, you enter what arrived in your base currency, such as Amount in SGD. It is required on every foreign-currency receipt, payment and refund.
Measure. easySales compares the two figures. More money than the invoice rate gives is a gain; less is a loss, shown in brackets, such as SGD (10.00).

The same applies when a credit note is applied to an invoice at a different rate, and when a receipt or credit note is refunded. Removing the payment, voiding the receipt or refund, or unapplying or cancelling the credit note marks its difference Reversed.

Where to find it

On the receipt — the Exchange gain/(loss) section has a line for each invoice it settled, such as “At the invoice rate SGD 2,700.00 · received SGD 2,690.00”, a line for each refund, and the Realised exchange gain/(loss) total.
In the statement drawer — opened with Statement at the top of the account page. When the period has any, a notice gives its realised exchange gain or loss on that account. The statement PDF prints no exchange line.
In the register — on the Invoices list, open the ··· menu and select Exchange differences under Registers. The Realised exchange differences drawer lists every foreign-currency settlement between the dates in Settled between, filtered by Account, Currency and Show reversed. Each row shows its Type, Documents, Amount, Carried, Settled and Gain/(loss). Select Download CSV to export it.

All three need Invoice View set to All records.

Good to know

Exchange differences are internal. Receipts, statements and other customer documents show payments and credits at the invoices’ rates, and nothing is posted to your accounting software.
A receipt in your base currency has no exchange difference.
Older receipts recorded without their base-currency amount cannot be measured. The receipt says so, and the register lists them under Not measured; easySales never estimates them at a rate.

Terms

Carried — the invoice’s balance in your base currency at its own rate.
Settled — what the money was worth in your base currency when it arrived or was paid back.
Gain/(loss) — the difference between the two.

Common misunderstandings

A loss does not leave a balance on the invoice. The invoice is settled in its own currency.
Changing the amount in your base currency does not change what the customer owes.

Why it works this way

The bank’s figure is the truth. An automatic rate is an estimate; your bank statement shows what actually arrived. Entering the bank’s figure means the gain or loss easySales measures is the one your accountant will find when reconciling the bank.

The customer owes in their currency. They were invoiced USD 2,000.00 and paid USD 2,000.00, so their invoice is settled whatever the exchange rate did. The gain or loss is yours alone, which is why it never appears on their receipt or statement.

Nothing is estimated. A receipt recorded without its base-currency amount is listed as Not measured rather than guessed at a rate, so every figure in the register comes from a real bank amount.

Work faster

Have the bank credit to hand when you record. Amount in SGD starts at today’s automatic rate; replace it with the bank’s figure before you save. See Record a payment.
Review a month at once. The Realised exchange differences register filters by Settled between, Account and Currency, totals the period and downloads as CSV.
Answer a customer query from the statement drawer. The notice there gives the period’s gain or loss on that account without opening each receipt. See Customer statement.
Check the invoice’s own rate first. The rate an invoice carries is fixed when it is issued. See Invoice exchange rate.

Examples

Lim & Co’s base currency is SGD. Its invoice INV-10000330 to Pacific Resorts Ltd is USD 2,000.00 at 1 USD = 1.350000 SGD, carried at SGD 2,700.00. The customer pays USD 2,000.00, and the bank credits SGD 2,690.00.

Mei Tan records the payment and changes Amount in SGD to 2,690.00. The receipt’s Exchange gain/(loss) section reads “At the invoice rate SGD 2,700.00 · received SGD 2,690.00”, and Realised exchange gain/(loss) is SGD (10.00): 2,690.00 − 2,700.00 = −10.00. The invoice reads Paid.

A gain on a part payment. INV-10000335 to Pacific Resorts is USD 3,000.00 at 1 USD = 1.340000 SGD, carried at 3,000.00 × 1.34 = SGD 4,020.00. The customer pays USD 1,000.00 first, and the bank credits SGD 1,352.00. That USD 1,000.00 is carried at 1,000.00 × 1.34 = SGD 1,340.00, so the receipt shows a gain of 1,352.00 − 1,340.00 = SGD 12.00. The invoice reads Partial Paid with USD 2,000.00 still due; its next payment is measured the same way when it arrives.

Common questions

How is the exchange gain or loss calculated? easySales compares what the money settled at the invoice’s own rate with the base-currency amount you entered from your bank. The difference is the gain or loss.
Does the customer see the exchange loss? No. Their receipt and statement show payments at the invoice’s rate, in the invoice’s currency.
Does an exchange loss leave a balance on the invoice? No. The invoice is settled in its own currency; the loss is recorded only for your own books.
Why is Amount in SGD already filled in? It starts at today’s automatic rate so you have a figure to check. Change it to what your bank actually credited.
Can I correct the SGD amount after recording a receipt? Not on the receipt: a recorded receipt cannot be edited. Void it and record it again with the bank’s figure. See Receipts.
Where can I see all exchange gains and losses for a month? On the Invoices list, ··· → Exchange differences, with Settled between set to the month.
Why is a receipt listed under Not measured? It was recorded without its base-currency amount, so there is nothing to measure against. easySales does not estimate it.