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Multi-Currency: Entering foreign currency bills

Once the foreign vendor record has been setup for foreign currency bills, enter the amount in the local currency of the vendor.

  1. From the Vendor's record, click New Bill
  2. Enter bill details
    • Invoice Number - any numbers or letters to help the vendor identify the bill
    • Payment Terms - how soon the vendor expects payment
    • Invoice Date - the day the vendor created the invoice
    • Due Date - specific date the vendor expects payment (filled automatically if Payment Terms have already been selected)
    • Amount - the total amount of the bill that needs to be paid
    • Exchange Rate - will be populated with an estimated exchange rate, which may differ at the time of payment
    • Bill Description - statement that explains what the bill is for (for internal purposes only)
    • Note to Payers/Approvers - any information payers and/or approvers need to know
    • Account - Chart of Account to code the bill to
      • If the account does not already exist, click Add new account
      • To code the bill to more than one Chart of Account check the box for Split this amount
    • Any other classifications if enabled
  3. Assign approvers if necessary
  4. 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
  • Inbox Virtual Assistant (IVA) does not recognize foreign currency. If enabled, the amount field will be blank for foreign currency bills processed via IVA.
  • With Auto Bill Entry (ABE), foreign currency amounts will be ignored. If enabled, the amount field will be blank for foreign currency bills processed by ABE.
  • This feature is available for Payables only and is not available for Receivables.