Hello, the rule that only the business can pay for foreign bills – is it a rule of the accounting package or of the revenue in Ireland? The company was not formed when this particular business expense was made so there was no way for it to be paid directly by business funds.
Hello, the rule that only the business can pay for foreign bills – is it a rule of the accounting package or of the revenue in Ireland? The company was not formed when this particular business expense was made so there was no way for it to be paid directly by business funds.
If an employee pays for a foreign currency bill, then you record the bill in bullet for the euro amount they paid. Bullet won't let the business reimburse an employee for the payment of foreign currency bills, since this would have a foreign exchange gain/loss element to it that the business did not incur, so this is why bills paid for employees must be recorded in euro.