General Currency Conversion

[Jess1014]

Dear Everyone,

I need your help on how to treat General Currency Conversion. The client has multiple currencies: USD, ILS, HKD and EUR. Everytime there is a transaction there will be a line of General Currency Conversion of the same amount so the balance becomes zero. Could someone explain this to me why it is like that?

Here is a sample:

General Currency Conversion	Completed	EUR	6.99
Pre-approved Payment Bill User Payment	Completed	EUR	-6.99

General Credit Card Deposit	Completed	HKD	226.55
General Currency Conversion	Completed	HKD	-226.55

	General Currency Conversion	Completed	USD	118
John Raymond Alfaro	Website Payment	Completed	USD	-118

[aberglas]

It means that they are scalping a fair chunk as part of the currency conversion and there is no easy way to tell how much they have charged because they do not give you a running balance.

I suspect the price is very high, probably over 5%.