Small PLC Accounts Package for EUR denominated purchases

[david_h]

I currently use Quickbooks pro but it's proving very difficult to use because I pay my suppliers in EUR and receive money from customers in GBP.

The main problem I have is when I pay supplier in EUR I don't know the rate at which barclays have given me when I pay the supplier until it hits my bank account, plus of course there's a £20 fee for each bank transfer to EUR account.

Is there an accounts package that's relatively simple that allows for VAT calculation and for purchases paid via EUR? I'm going to struggle to do my annual accounts off this system.
I end up doing my VAT quarterly returns on a separate spreadsheet as I find it easier.

Thanks in advance.

P.S. I had no idea the level of paperwork incurred by small businesses, it's ridiculous. And to think I used to complain about completing my self-assessment tax form.

[david_s]

We pay most of our suppliers in US dollars, MYOB Accounting plus is OK for currency transactions as it allows you to specify the exchange rate for each transaction. The only problem we have is that our accountants only know how to use Sage, which makes our end of year accounts both more difficult and more expensive.

Incidently, we used to pay barclays £20.00 for every transaction, now we use Travelex and pay £5.00 (and get better exchange rates).

[Red V8]

Sage Line 50 can do exactly what you want, You'll need the 'Financial Controller' version and you need to turn on the 'Foreign Trader' option. Your base accounts can be in sterling, and you can trade with customers and suppliers (invoice, payments, reciepts etc) in their own currency... you can also set up foreign currency bank accounts and all conversions from foreign to sterling are taken care of automatically... all you need to do is keep the exchange rate up to date.