When you use the International Payment Service to receive foreign customer payments, you need to enter those payments in QuickBooks.
Note: Be sure to make a note of the exchange rate, item ID, and any associated fees for the payment received through the service. This information will be used when you record the payment in QuickBooks.
I use customer payments to record payments
Go to the Customers menu and click Receive Payments.
Set the Received From field to the foreign customer from whom you've received the payment.
Enter the foreign amount and date of the payment.
Enter the exchange rate used by the service for the payment.
In the Pmt. Method field, click Add New to add a payment type for wire transfers and drafts.
Use the Reference # field to record the item ID the service assigned the payment. You may want to include a
W for wire transfers and a
D for drafts.
If you haven't set your preferences to deposit to Undeposited Funds by default, use the Deposit To field to select the bank account into which the payment was deposited.
Click to select the invoice being paid, apply any discounts or credits as needed, and then save the transaction. When QuickBooks asks if you want to save the exchange rate for that date, click No.
I use sales receipts to record payments
The exchange rate used by the service for the payment in the Exchange Rate field.
The item ID the service assigned the payment in the Check No. field.
Record international payment fees
If there are fees associated with your foreign payments, you need to account for these fees in QuickBooks. We recommend that you speak with your accountant about recording international payment fees.
One way to enter these fees for a home currency account is to use your bank account register. If you need to enter fees for a foreign bank account, see Enter fees when reconciling foreign accounts
Go to the Banking menu and select Use Register.
Select the home currency account for which the fees were charged.
Record the fees and select the account where you track your international service fees.
International payments (overview)
Enter a foreign bill payment in QuickBooks