How to handle the odd transaction in USD, despite only having a GBP bank account

Dr. David Kirkby (Kirkby Microwave Ltd) drkirkby at kirkbymicrowave.co.uk
Sat Mar 11 11:24:41 EST 2017


My company sells products in GBP, but a particular customer wants to pay in
USD, so I quoted him a price in USD which he is going to pay into the
company bank account. The bank account is GBP, so the bank (RBS) will
convert the USD to GBP, at some interest rate, and with some fees.

How should this be recorded?

Dave

Dr. David Kirkby Ph.D CEng MIET
Kirkby Microwave Ltd
Registered office: Stokes Hall Lodge, Burnham Rd, Althorne, Essex, CM3 6DT,
UK.
Registered in England and Wales, company number 08914892.
http://www.kirkbymicrowave.co.uk/
Tel: 07910 441670 / +44 7910 441670 (0900 to 2100 GMT only please)


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