Hi,
I've chased this issue up with PayPal directly, but no luck so far. Hoping somebody can assist!
My accountant requires me to maintain a GBP balance only in my Business account.
The business receives several recurring payments in USD, as well as AUD.
I've removed USD as a currency on my account, but a USD balance is still being created every time one of these USD payments hits. I'm left with two balances - GBP and USD. This causes all kinds of accounting headaches when I transfer funds from PayPal to my business bank account.
What I need is for the payment - on arrival - to be exchanged in to GBP and added to my GBP balance, so that my accountant can track the exact amount. It seems this is already happening with the AUD payments, but the USD payments are opening a brand new USD balance even though I've "closed the currency".
Am I missing something obvious here? Is there no way of maintaining a balance in one currency whilst still receiving payments in different currencies and having them exchanged automatically in to GBP when they arrive?
Any help would be much appreciated.
Cheers,
