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ternyata
Level 1

Including original currency and exchange rate in invoices

Hi,

I'm a QB newbie, and trying to set up invoices to meet the demands of my various customers. My home currency is GBP, but I have expenses, bank accounts, and invoicing in a number of other currencies. I am using multi-currency, and have read as much as I can find on the forums (so am just now understanding how very limited it is -- but that's for another question).

 

I understand that QBO can only cope with a client being invoiced in a single currency, which must be set at the time of setting up the client, and which cannot be changed. Accepted. I understand that whatever currency I incur an expense in, when it is invoiced to that client, it will appear in their invoicing currency automatically, using the exchange rate read in by QBO for the date the transaction was incurred [?], which I can manually change if need be. Accepted. However, I cannot find a way to register on the invoice either the amount of the expense in its original currency, or the exchange rate.   

Both of these things appear in the transaction record (see attached screenshot). 

One of them, the exchange rate <ExchangeRate> appears as a field in the QBO EZ field mapper. I have included it in a customised invoice, which I made based on your templates and uploaded, (example attached). When I uploaded it, the field showed as correctly mapped, but when I read expenses in to this, the exchange rate does not appear on the invoice.

 

I need to be able to include the exchange rate (at a minimum) on my invoices, and ideally also the original expense incurred. So, say I am billing a client in Euros for expenses incurred in  Indonesian Rupiah and Swiss Francs, it would look like this:

DateItem*Original costCurrencyExchange rate*Euro amount*
03/03/20Hotel2000000IDR0.000056132.6
06/04/20Transport3CHF0.942.84

 

The columns marked with an asterisk are the minimum requirement for my clients. All the data are in QBO, I just can't figure out how to extract them to an invoice.

Thanks for your help with this.

 

5 REPLIES 5
JenoP
QuickBooks Team

Including original currency and exchange rate in invoices

Hi there, ternyata.

 

For now, we're unable to add an Exchange Rate column when creating invoices in QuickBooks Online. This is the reason why you can't see it in the actual invoice even if it was added in the template that you've imported. 

 

The same goes for the original cost. Although, you can use the Billable Expense feature to track the expenses that you've incurred in behalf of your customers. 

 

Please take a look at these articles for more details about using multi currency in your sales transactions:

 

Let me know if you need anything else. ​​​​​​​

Fiat Lux - ASIA
Level 15

Including original currency and exchange rate in invoices

@ternyata 

As additional option, explore this 3rd party payment service to deal with multi currency transactions.

https://veem.grsm.io/veems

 

ternyata
Level 1

Including original currency and exchange rate in invoices

Thanks. I had read all of those articles before writing to you; they do not solve my problem. Billable expenses also doesn't help, because, although the DATA I want (original amount and exchange rate) appears on the expense form, there does not seem to be a way of including it in the invoice.

 

I thought there might be a work-around using custom fields. I am using Quickbooks Plus. I seem to able to add custom fields to sales forms, but not to expense forms, and am thus unable to use them, even manually, at the level of the transaction. Am I missing something?

 

RE: "For now, we're unable to add an Exchange Rate column when creating invoices in QuickBooks Online."

It seems that it would be relatively trivial for your engineers to add this, since it is already a defined field in your own templates. Is this in process? Should I be patient, or switch to another software provider before investing too much in setting up QB?

Thanks,

ep

IntuitLily
Moderator

Including original currency and exchange rate in invoices

I appreciate you bringing this to our attention, @ternyata.

 

We always value customers who take the time to us their feedback regarding our product.

 

Yes, you're correct. You can add custom fields to sales forms on the settings page but this option isn't applicable to expense transactions. Also, you can search for an available app as suggested by one of our Community backers if you need to add an exchange rate column for your invoice. You may see a preferable option through this link: QuickBooks Online Apps.

 

Keep me posted if you need anything. Our doors are open 24/7 if you have other questions or concerns. Take care and have a good one.

websolprov
Level 2

Including original currency and exchange rate in invoices

Once again, Intuit's response is ridiculous, you store the currency of the customer when its first setup (and it cant be changed), this NEEDS to be available as a template field in the configuration.  There can be no other way, get this fixed urgently please.  I dont expect to have to ask again.

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