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What is the Best Practice for paying for a FX bill with a Local Credit Card?

We often pay USD Vendor Bills with a company cards that’s in CAD. What’s the best practice for paying these?

Is using the credit card as the payment method/account and then making a Journal entry against the Realized Gain/Loss the correct approach? Is there a better method to balance everything.

Thanks in advance!

Beginner Asked on January 28, 2020 in Accounting.
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