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Multi-Currency: Setting up an International vendor for foreign currency bills

Multi-Currency is the ability to enter a bill in foreign currency.

This feature is available for Payables only and is not available for Receivables.



Setting up an International vendor to enter foreign currency bills

      1. Click the Edit icon on the International vendor's record
      2. In the Billed In field, select the foreign currency to enter bills in
        • Defaulted to USD - United States Dollar
          • This setting cannot be changed if a bill is already entered for the vendor in the currency selected. You will need to create a duplicate record for the vendor to enter bills in a different currency.
      3. Click Save 


Things to know

      • Once Multi currency is enabled, it cannot be disabled
      • For accounts syncing with QuickBooks Online, QuickBooks for Windows. Xero or Sage Intacct, if Multi-Currency is NOT enabled in the accounting software, foreign currency Vendors, Bills and Payments will NOT sync. Entries will need to be manually entered into the accounting software if needed.
      • For accounts syncing with Oracle NetSuite, Multi-Currency must be enabled in the accounting software to use Multi-Currency in
      • Multi-Currency sync support is available for QuickBooks Online, QuickBooks for Windows, Xero, Oracle NetSuite and Sage Intacct
        • If syncing with QuickBooks for Windows, the sync dashboard will need to be upgraded. If the sync dashboard is not upgraded, foreign currency vendors & bills will sync to QuickBooks for Windows as USD. Click here to Download the new Sync Dashboard (~955 KB)
      • The ability to create foreign currency bills is supported on the mobile app, both IOS and Android, for vendors already set up for foreign currency bills via the online version of Android coming soon!
        • Foreign currency setup for International vendors is not currently supported within the mobile app
      • Multi Currency is not supported with recurring bills setup
      • Payments can be made from your USD bank accounts. USD equivalent for your foreign currency bills will be shown to you at the time of payment and your accounts will be debited for the USD dollar amount.
      • If an international vendor record has been set up for foreign currency bills to be entered, they can only be paid in foreign currency
      • If an existing vendor record has any USD bills associated to it, a new vendor record will need to be set up in order to enter foreign currency bills because once a bill is created the Billed In/Enter Bills In field is locked
        • We recommend naming these vendors differently. For example, <Vendor name> (USD) and <Vendor name> (foreign currency acronyms)
        • These duplicate vendor records should not be merged
          • does not allow bills with different currencies under the same vendor record
          • If merged, all bills will change to the currency selected to be kept
            • Bills where currency is changed will cause sync errors, if Multi-Currency is on in the accounting software, because it no longer matches the currency in accounting software