To enable multi-currencies, kindly follow the steps below:
- Go to 'Your Profile' on the top right-hand side of your home page
- Click 'Company Settings'
- Scroll down to 'Finance Settings'
- In the 'Manage Currencies' section, select 'Currency Settings'
- Click 'Add Currency' and select EUR
- Manually enter the exchange rate from your preferred currency exchange site. Please note this exchange rate will be fixed until you manually update the rate again.
- Check that the exchange rate was interpreted correctly at the bottom of the screen, e.g. "x.xx EUR - Euro = y.yy GBP - British Pound"
- Click 'Save'
All financial reporting will be generated in GBP.
If you have already enabled 'Multi-Currency' in 'Your Profile' 'Company Settings', then you will have the option to choose between currencies on your invoices.
When you create a new invoice, select the relevant 'Currency' from the drop-down menu:
Please note that although you can create invoices in other currencies, you can only match GBP invoices to bank transactions in your GBP account.
If you are receiving the overseas customer payment into a GBP account, you can edit your invoice template to include information about the FOREX rates.
Example:
- Go to Your Profile
- Select Company Settings
- Under Document Settings, press 'Edit document templates'
- Press New Template to create a new invoice template for your foreign currency
- Or edit an existing template.
- Manually input any relevant text in the Global Invoice notes section under the 'Invoice' settings:
- When creating a new invoice, manually input any relevant text into the 'Description' field.
- Use the 'Document Notes' section for adding any FOREX details.
Please note that it is the user's responsibility to ensure that all invoices and credit notes issued to customers are compliant with HMRC’s rules on the issuance of invoices and credit notes. For more information, and to familiarise yourself with the latest advice, please refer to the government’s website.