[GNC] Have I screwed up with my Accounts Payable and Accounts Receivable?

[Fred Bone]

On 25 January 2023 at 21:09, Dr. David Kirkby said:

> On Wed, 25 Jan 2023 at 20:52, Fred Bone <Fred at mandfb.me.uk> wrote:
> 
> > On 25 January 2023 at 20:35, Dr. David Kirkby said:
> >
> > > On Wed, 25 Jan 2023 at 19:29, Dr. David Kirkby <
> > > drkirkby at kirkbymicrowave.co.uk> wrote:
> > >
> > > >
> > > > I have the attached transaction showing as owing $0.98 to
> > > > Porkbun.com. The number 0.98 happens to be the difference between
> > > > what this cost in USD ($6.90) and what it cost in pounds (£5.92).
> > > >
> > > >  6.90-5.92=0.98.
> >
> > That sounds as though you have set a 1:1 conversion rate between the two
> > currencies ...
> >
> 
> No, I did not set a conversion rate of 1:1. I did not set the conversion
> rate, but the debited or credited amount. The bank account, which I have
> reconciled, shows a credit of £5.92 for the item I purchased for $6.90.
> The 0.98 difference is showing up as a pre-payment in USD. But it is
> neither USD nor GBP.

So what conversion rate is it using?

If you didn't set one, then the only feasible default is 1:1, which would 
adequately explain what you're seeing.

Try setting the rate to GBP5.92=USD6.90 and see what difference that 
makes. You can always do it in a testing copy of the books first.