Guide to Using FusionInvoice Exchange Rates / Multi-currency

How do I set up multiple currencies?

Examples


How do I set up multiple currencies?

FusionInvoice supports multiple currencies out of the box. There are just a few items that you need to set up and understand to send your customers quotes and invoices in a currency other than your normal base currency.

  1. From the System Settings menu, open the Currencies page. FusionInvoice ships with several common currencies, but this is where you will add the currencies that you'll need. Note that you don't enter exchange rates here, just the defining characteristics of the currencies, such as the symbol used, currency code, etc..
  2. If you have clients that will always be invoiced in a currency other than your base, edit their client record and change their Default Currency value.
  3. Try it out! Create a new invoice for one of these clients and you will notice that the Currency field in the Options section of the invoice has the client's currency type set. The exchange rate value will be updated automatically, using exchangeratesapi.io.


Examples

  1. We will make sure the invoice Options field for Currency is set to 'Indonesian Rupiah'
  2. Next we'll look up the current exchange rate. From your favorite search engine, search for "conversion rate USD to IDR". As of this writing, the rate is 14,103.50 Rupiahs to 1 US Dollar.
  3. Enter 14,103.50 into the Exchange Rate field.
  4. *Very important: The prices that you will enter in the line items of the invoices must be entered in the client's currency, in this case Indonesian Rupiahs.
  5. The invoice balance shown in your invoice list will display in the client's native currency, but all other reports, including your dashboard will perform the currency conversion for you, displaying values in your base currency.