Question: Hi I have a Euro account and just received a Dollar payment. How do I handle foreign currency bank charges?
Any bank charges have to be recorded manually in a separate bill just a Standard Bill in Money Out, Bullet does not work this out.
So if your bank (Bank A) charge €37.83 for $50 here are the 3 scenarios that can happen, because of this we can’t automate the process.
- If Bank A statement says that they charge €1 as a bank charge, then the exchange rate that would be entered by him is 0.7366
- If Bank A statements says that the exchange rate is 0.7466, then the charge would be 50c. So a bill for 50c should be manually created by you.
- If Bank A dont provide either then the exchange rate of 0.7566 should be entered by you and he can’t record a bank charge bill.
They are all the three scenarios, hope this helps.