Invoicing in another currency

bitsixteen · ‎February 01, 2022

Hello,

My account is in Euro. A customer has insisted I invoice in Sterling. I don't see how I can do this via normal invoicing as it defaults to Euro.

Multi-currency is switched off as I'm getting so many warnings about switching it on, that's it making me anxious about doing so. Also, I suspect it's not the solution I need?

So if my account is in Euro, how do I invoice in Sterling?

Thanks,

Paul

Jovychris_A · ‎February 01, 2022

Hello there, @bitsixteen. I'll share with you more details about creating an invoice in Sterling.

It's correct that you have to turn on the Multi-currency feature. Keep in mind that the warning you see in QuickBooks indicates that there are changes in the way it calculates to maintain numerical values in your company's financial data while receiving other foreign currencies.

Once done, you can now add the currencies you use for a customer. Let me guide you how:

Click the Gear icon, then select Currencies.
Select Add currency.
From the Add Currency drop-down, choose the new currency.
Hit Add.

On the other hand, the invoice created in QuickBooks depends on the currency assigned to the customer's profile. That said, you can allocate Sterling currency, so their invoice is in Sterling.

Please note that you can only assign a currency to a customer during the profile creation. Therefore, you're unable to change an existing currency in a customer's profile. If you have already allocated the wrong medium of exchange to a client, I recommend making it inactive. Then create a new customer profile with the designated currency.

Once all set, you can now create an invoice in Sterling for that customer.

You can read these articles for more details:

If you have other questions in mind, you can always go back to this thread. I'll come to help. Have a great day, and keep safe.

Fiat Lux - ASIA · ‎February 01, 2022

@bitsixteen

You can use the free invoicing app as a workaround if you are not interested in enabling the multi currency feature in your QBO account.

bitsixteen · ‎February 02, 2022

Hello Jovychris_A,

Thanks very much for that detailed procedure. I totally understand about assigning one currency to each client; as this client will always pay in Sterling, I'll assign that currency to their profile.

Before I mark this as the solution, is there any down-side to switching on multi-currency? It just gives you so many warnings that, as a user, you feel you're about to break something.

Thanks again.

bitsixteen · ‎February 02, 2022

Hi there, that's good to know. I'll use that as an alternative if the other solution is problematic, but hopefully it will be OK.

Many thanks.