How do AP process a USD invoice with GBP VAT - AccountingWEB
...We have a UK company who invoice in USD and charge 20% VAT GBP. How do Account payable process this as they are unable to process with two currencies....
https://www.accountingweb.co.uk/any-answers/how-do-ap-process-a-usd-invoice-with-gbp-vat
Calculate tax based on USD to GBP? - AccountingWEB
...Paid USD into transferwise -> Transferwise USD to local UK bank account -> funds arrive within a few hours/days and are automatically converted to GBP, less any charges -> pay tax to HMRC based on those GBP funds. Is this a legitimate and allowed way of calculating tax on profit for 19-20 self assessment tax return? Thank you....
https://www.accountingweb.co.uk/any-answers/calculate-tax-based-on-usd-to-gbp
US DOLLAR INVOICE CHARGED UK VAT - AccountingWEB
...We are a UK Business and deal with another UK business who has just invoiced us in US Dollars, and charged us VAT. Just wanted clarification if this is correct? I thought that an invoice which was subject to UK VAT needed to be in GBP so we both had the same exchange rate ......
https://www.accountingweb.co.uk/any-answers/us-dollar-invoice-charged-uk-vat
Microsoft account showing in USD$ instead of GBP£
...So in my account then Payment and Billing, then payment options states Microsoft account balance is 0.00 USD. In order history Game Pass Ultimate states USD$ 0.00 (which I previous redeemed using Reward Points)...
https://answers.microsoft.com/en-us/msoffice/forum/all/microsoft-account-showing-in-usd-instead-of-gbp/4fc5b19d-2bd4-40f4-932a-0a891472cddb
UK company invoicing another UK company in USD - AccountingWEB
...USD OK but must show GBP It is perfectly in order to invoice in any currency agreeable to both parties. This is often the case when dealing with multinational companies who trade in currency with their group partners. However as already stated you must ALSO show the GBP value of the VAT, calculated at either the rate published by HMRC or a daily rate from a reliable source. The CUSTOMER must ......
https://www.accountingweb.co.uk/any-answers/uk-company-invoicing-another-uk-company-in-usd
Presentation & functional currency change - AccountingWEB
...They are moving from GBP to USD, they have substantial assets which are acquired in USD and then converted to GBP. When converting them back from GBP to USD at the BS date you get a very different USD value due to the recent fx rate changes....
https://www.accountingweb.co.uk/any-answers/presentation-functional-currency-change
Request to Add the New Saudi Riyal (SAR) Symbol in Microsoft Office ...
...Adding this symbol is essential for compliance and business use in Saudi Arabia, just as USD ($), EUR (?), and GBP (£) symbols exist in Office applications. I appreciate your support in ensuring this request is understood and directed to the correct team at Microsoft....
https://answers.microsoft.com/en-us/msoffice/forum/all/request-to-add-the-new-saudi-riyal-sar-symbol-in/d03ae908-7dd4-4a43-8abe-fe31639aa126
Valuing stock at year end - AccountingWEB
...The cost is the price in USD converted at the exchange rate at the time of purchase (or an average approximating to it). As Richard says, while GBP strengthens against USD, you will get an exchange gain on paying the invoice in USD and on the outstanding creditor, which is a monetary asset denominated in USD, at the year-end....
https://www.accountingweb.co.uk/any-answers/valuing-stock-at-year-end
Forward currency contracts - AccountingWEB
...Where a company with an ARD of 31 December takes out a forward contract prior to the year end committing it to purchase a set value of USD (against GBP) at some point between 2 January and 31 March following the year end, are there any accounting entries required to recognise that commitment in the ......
https://www.accountingweb.co.uk/any-answers/forward-currency-contracts
How can I stop Xero revaluing my conversion balances at ... - AccountingWEB
...How to stop Xero changing conversion balances I have a client with USD and GBP balances. I set up the client on Xero with the 31/12/14 opening balances valued at the rate in the 31/12/14 accounts. So far so good. But then Xero revalues those balances, at different rates, and creates a balance sheet entry at 31/12/14 for the resulting gain or loss....
https://www.accountingweb.co.uk/any-answers/how-can-i-stop-xero-revaluing-my-conversion-balances-at-conversion-date