Currency accounts

[J. Milgram]

> Sender: conrad@mail.watersprite.com.au
> Subject to the standard "I am not an accountant" disclaimer, I would do
> this by recording the entire sales (amount of money, exchange rate,
> etc.) *at the date you actually received the US$*. I am assuming that
> the entire sale is recorded in your income stream, so this would then
> show up with the correct value in your income.

Thanks for the quick response.  Yes, this makes sense, except I have
to maintain the German customer's account-receivable, so he needs one
sum entered for his DM-payment (exchange rate of that day, per our
agreement) and I need to account for USD-cash received on a different
day (different exchange rate), and the two amounts are in fact
different.

I think if the German customer didn't actually have an account I could
do like you suggest.

Judah


Judah Milgram                             milgram@cgpp.com
College Park Press                        http://www.cgpp.com
P.O. Box 143, College Park MD, USA 20741  +001 (301) 422-4626 (422-3047 fax)