Help with foreign invoices

[iWrite4u]

Hi

I have started to use GnuCash for all my accounting, but have come up
against a brick wall.

I am a freelance who works for both US and UK companies. I am based in the
UK, with a UK bank account.

I have the US companies set up okay - all the invoices come up in $, so all
is well. I can post the invoice okay to "Accounts Receivable" and it remains
in $.

The problem comes when I try and marked the invoice as paid. My clients
accept the invoices in $ but pays straight to my UK account in £. It should
be easy to do in GnuCash, but it just doesn't work.

When I go to "Process Payment" the Amount comes up in $, and I am trying to
transfer it to my UK bank account. Say the amount is $1,000, which is about
£600. When I click "OK" I get the message "The transfer and post accounts
are associated with different currencies. Please specify the conversion
rate." which is as expected.

But ... the payment is set at $1,000 and cannot be changed, and the Transfer
>From Currency is GBP and the Transfer Currency is USD. Surely it should be
the other way around?

Anyhow, I put the GBP amount (£600) in the "To Amount" box and click "OK".
But it doesn't work - the $ amount (1,000) arrives in the GBP account, and
the difference (400) arrives in "Inbalance-USD".

If I leave things how they are, the same thing happens. $1,000 disappears
from Accounts Receivable, £1,000 arrives in the GBP account and £400 ends up
in "Inbalance-USD" 

I am following this guide:

http://www.gnucash.org/docs/v2.6/C/gnucash-guide/bus-ar-payment1.html

As I have version 2.6. It is the same as the help files with the app.

But when I go to Business > Customer > Process Payment, I get a different
dialogue.

Instead of Invoices, I get "Documents". When select the Customer, nothing
appears in the "Documents" window.

Can some help. This is driving me nuts!

Peter.

 




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