Accounts Receivable in USD (Canadian Corporation)
I have a Canadian company, but my primary customer is an American LLC who wants to receive invoices in USD. I created an AR account for them, and set the currency to USD. That seemed to work well, and the currency exchange was taken care of during the transfer to my chequing account. However, when I tried to run a profit and loss report at the end of the year for my accountant the results were incorrect; it seems quicken takes the entries in the AR account and converts them using the current exchange rate, when I was expecting it to use historical rates at the time the invoice was paid.. How do I fix this?
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