When you generate an invoice, it is possible to change the currency of the invoice at Step 1 of the Billing Wizard.
By default, an invoice will be generated in your system’s default currency.
To set up additional billing currencies please see the module on Finance Configuration.
It is also possible to set a different default billing currency for clients within the Address Book. Please see the module on Organisation Finance Settings for more information on this.
Conversion Scenarios
The table below outlines instances where charges will be converted to another currency for billing.
| Scenario | Description | Conversions |
1 | A charge added in your default currency is billed in a different currency. e.g. a UK company adds a charge in GBP and bills the charge in USD. | In this instance, the charge is added to the case in the system’s default currency and billed in a different currency. The conversion and mark up will be applied at the billing stage only.
| 1. Billing stage: Default Currency > Foreign Currency |
2 | A charge added in a foreign currency is billed in the same foreign currency. e.g. A UK company adds a charge in USD and bills the charge in USD. | Two conversions are automatically applied here: 1. When the foreign currency charge is added to the case it will be converted into the system’s default currency. 2. At the billing stage, the charge amount will be converted back to the original foreign currency. | 1. Charge Creation: Foreign Currency A > Default Currency
2. Billing stage: Default Currency > Foreign Currency A
|
3 | A charge added in a foreign currency is billed in a different foreign currency. e.g. A UK company adds a charge in EUR and bills the charge in USD. | Two conversions are automatically applied here: 1. When the foreign currency charge is added to the case it will be converted into the system’s default currency. 2. At the billing stage, the charge amount will be converted to a different foreign currency. | 1. Charge Creation: Foreign Currency A > Default Currency
2. Billing stage: Default Currency > Foreign Currency B |
Avoid Double Charge Conversion/Mark Up
When a charge is added in a foreign currency and billed in a foreign currency, the conversion and mark up will be applied at two stages:
Stage 1. When the Charge is added to the case it will be converted to the system’s default currency when saved
Stage 2. When billing the charge the amount will be converted from the system’s default currency to the billing currency
To avoid the mark up being applied at stage 1:
Go to the Address Book Organisation Preferences tab > ‘Disable Inbound Markups’.
Users will often enable this preference for clients that are regularly billed in a foreign currency.
To avoid a second conversion at stage 2:
At Step 2 of the Billing Wizard, the original charge amount will be displayed. Click the original amount to discard the converted amount or click the ‘Convert All To Original’ to change all charges.