You can create sales invoices in Accountable using a wide selection of currencies, including USD, GBP, and CHF. This is useful when you have clients based outside the Euro zone.
Accountable supports the following currencies: Euro (EUR), US Dollar (USD), Australian Dollar (AUD), Canadian Dollar (CAD), British Pound (GBP), Japanese Yen (JPY), Chinese Renminbi (CNY), Polish Zloty (PLN), Norwegian Krone (NOK), Danish Krone (DKK), Swedish Krona (SEK), and more.
This article explains how to set the currency on the web, how to do it in the mobile app, and answers common questions about exchange rates and VAT.
How does it work on the web?
First, create a new sales invoice from the Revenue screen.
In the right panel, click the Currency drop-down menu and select your currency.
The invoice on the left updates automatically to reflect the selected currency.
The total EUR equivalent appears below the currency drop-down menu.
You can manually edit the EUR equivalent value.
After saving the invoice, the Revenue screen shows the sum of all your invoices as a value in EUR.
How does it work in the app?
First, create a new sales invoice from the Revenue screen.
You can change the currency either from the invoice settings or when editing the item details.
The EUR equivalent value adjusts automatically.
You can manually edit the EUR equivalent value directly in the invoice screen.
After saving the invoice, the Revenue screen shows the sum of all your invoices as a value in EUR.
FAQ
Can I invoice with VAT in other currencies? Yes. As long as your client is based in your country, you can add local VAT. As with EUR invoices, the reverse charge regime applies for sales invoices within the EU, and the 0% export rate applies for sales invoices outside the EU.
Will more currencies be available in the future? There is already a wide selection available. Reach out to us if you have a specific request.
How does Accountable define the exchange rate? Accountable uses the exchange rate from www.fixer.io, based on the date of the invoice.
Can I update the exchange rate manually? You can update the EUR amount manually, and the exchange rate value will adjust accordingly.
After I link a payment to an invoice, how can I adjust the value in EUR? If the exchange rate differs between the invoice date and the payment date, the invoice amount in Accountable may not match the bank transaction. You can edit the invoice at any time to manually update the EUR value.
If I create a credit note from a sales invoice, which EUR amount is used? The exchange rate automatically adjusts to the date of the credit note, so the EUR value will differ from the original invoice. You can edit the document at any time to manually update the EUR value.
What happens if the EUR amount received from my client does not exactly match the invoice amount (for example, because the bank charges transaction fees)? The invoice is marked as paid automatically, as long as the total amount of linked bank transactions is at least 90% of the invoice amount.
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Key takeaways
Accountable supports a wide range of currencies for sales invoices, including USD, GBP, CHF, and more.
You can set or change the currency both on the web and in the mobile app.
Exchange rates are pulled from www.fixer.io based on the invoice date, and you can always override the EUR amount manually.
The Revenue screen always displays totals in EUR, regardless of the invoice currency.
An invoice is marked as paid automatically when the linked bank transactions total at least 90% of the invoice amount.
Need help? Chat with us or email support@accountable.eu, we're happy to help.