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How Bookkeep ensures the correct currency is posted to Xero
- Do you receive payments in multiple currencies?
- Do you have sales occurring in foreign currencies?
If these apply you, you may have questions as to how Bookkeep manages multiple currencies. For starters, if any of the apps you have connected provide the converted amount, we will post the converted amount since it will be the most accurate conversion rate. For example, if Amazon converted your CAD sales to USD for deposit to your bank account, we utilize the USD amounts and provide the conversion rate used by Amazon.
In Xero, we post deposits as bank transactions and sales entries as journal entries.
In the case of non-deposit postings e.g. sales postings: If the currency of the source data e.g. Shopify sales does not match the base currency of your Xero books, we will fail the entry in Bookkeep. This ensures that the wrong currency is not posted to Xero.
In the case of deposits which post as bank transactions: If the currency of the source data e.g. Shopify deposit does not match the account currency of your mapped Xero bank account, we will fail the entry in Bookkeep. This ensures that the wrong currency is not posted to your Xero bank accounts.
If you have any questions feel free to contact support@bookkeep.com.