Foreign: invoices, payments and journals
25 Nov 2025
Published Online by the QuickBooks ProAdvisor Program, Intuit Canada, November 2006
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  Name That Journal
Eileen Reppenhagen, Certified
QuickBooks ProAdvisor
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What happens when a client uses QuickBooks and deals in Foreign transactions: invoices, payments and exchange? Normally, once they are posted, they clear perfectly, but what it they don’t? There’s only one answer. To correct it, you have to make a journal entry, but that can be tricky. So, here is what you need to know, especially when posting a JE to the Exchange Gains/or Loss account
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Eileen Reppenhagen, Certified QuickBooks ProAdvisor writes and speaks about accounting and tax. She is a regular contributor to Canadian MoneySaver, The TaxLetter and Intuit’s award winning online publications for accountants and QuickBooks ProAdvisors, ProConnection Newsletter and Advisor Advantage.
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