Am struggling with Book keeping for one our client who trades in Gems and Diamonds.
They raise hand typed invoice to their customers normally in US$ for the Net amount and VAT element in Eqvl. GBP. Example: USD 1000.00 NET and VAT $200 = £160 using rate 1.25
They receive payments sometimes togather NET + VAT in US$ or sometimes NET in US$ and VAT in GBP separately. Or sometimes NET and VAT both in GBP but in different occasion.
In most cloud accounting softwares sales invoice can only be created in one currency and VAT in the same currency and posted in sales ledger accordingly. When allocating receipts NET element in US$ and VAT element in GBP is not being accepted by any software since invoice was created in either one of the currency.
Upon my exploration of diffrent cloud based software like Quickbooks, Sage, Xero only Quickfile has some answer but cant see the transaction history of one particular customer/ supplier in one screen, They still working on the filtering and reporting.
VT transaction+ does the work but not cloud based and have no plan to go cloud based at all.
Could someone advice me on powerful Multi-currency software which addresses this issue please.
Would very much appreciate it.