PayPal Accounting Transactions in foreign Currencies

Another improvement to our accounting software based on feedback from our customers:

There was an issue with our PayPal Importer in that if you had a transaction in a foreign currency and chose to process it (ie, to create an invoice or receipt), the amount wouldn’t have been converted into your home currency.

This has now been corrected.  On the Settings page for your PayPal Profile (Settings -> PayPal Imports -> Edit), you will need to tell us what the main currency you use is. As the majority of our customers are in the UK, we have defaulted this to GBP.

The transaction amount will be converted to your home currency at the exchange rate that PayPal applied at the time of the payment. The original value and currency will be added to the description of the item.

See how IRIS KashFlow works with your business and your books