Invoicing a customer in a foreign currency

ramapublishing · ‎March 06, 2019

Hi,

We are a UK based company with a UK bank account.

We have a customer in Ireland that wants an invoice in Euros.

Should I tell them that we don't invoice in Euros because we don't have a bank account that accepts Euros?

I am confused as to why they want a Euro invoice...why won't they just do a bank transfer to our UK account to ensure we get the right amount?

If we raise an invoice in Euros and then the exchange rate moves then we will be left with a difference (could be good, could be bad).

I might be confusing the issue completely, could someone please advise?

Thanks

TaliaI · ‎March 06, 2019

Hello ramapublishing,

Thank you for your question!

You could discuss this with your customer, however QuickBooks is set up to deal with this. You can edit the exchange rate to reflect what it was the day your customer paid, so the payment matches the invoice. It does also take this exchange rate issue into account through realised and unrealised Exchange gains and losses - please find attached an article on multicurrency for further details:

Thanks,

Talia

View solution in original post

TaliaI · ‎March 06, 2019

Hello ramapublishing,

Thank you for your question!

You could discuss this with your customer, however QuickBooks is set up to deal with this. You can edit the exchange rate to reflect what it was the day your customer paid, so the payment matches the invoice. It does also take this exchange rate issue into account through realised and unrealised Exchange gains and losses - please find attached an article on multicurrency for further details:

Thanks,

Talia

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