Sell in any currency. Keep the books in rand.
Quote and invoice in your customer's currency. BX1X converts for your books and works out exchange differences for you.
Sample data. Prices come from a price list for each currency. The rate is one you set.
Rates move. Your books keep up.
Between invoice day and payment day the exchange rate changes. BX1X records the difference as a gain or a loss, so your books match your bank.
- You invoice at today's rateThe invoice keeps the rate it was issued at, so its value in rand doesn't shift afterwards.
- The payment arrivesRecord it in the customer's currency. BX1X converts it at the payment-day rate.
- The difference is bookedA gain or loss goes to your exchange account in the ledger, without a manual journal.
- Month-end is covered tooStill unpaid at month-end? Revalue open balances to the current rate.
Every document can speak the customer’s currency.
Choose the currency when you create it. Customers and suppliers can each have their usual currency, so it’s filled in for you.
- Quotes
- Invoices
- Credit notes
- Sales orders
- Supplier bills
- Expenses
- Subscriptions
- Bookings
- Rate cards for billable time
- Price lists
Selling online? Each online shop has its own currency, so you can run one shop for local customers and another for overseas buyers.
You stay in control of the rates.
- Rates you set, by dateEnter the rate for a day, or override it. Each document keeps the rate it was issued at.
- Your home currency, your choiceRand by default. Set a different home or reporting currency for each business you run.
- VAT in rand, done rightVAT on foreign invoices is converted at the invoice’s own rate for your VAT records.
- One place to see it allA currency dashboard and an exchange gains and losses report, next to the rest of your accounting reports.
Questions owners ask
Can I invoice a customer in dollars, pounds or euros?
Yes. Choose the currency when you create the quote or invoice, or give the customer a preferred currency so it is filled in for you. Your books stay in rand.
Where do the exchange rates come from?
You enter the rate for a date, or override it on a document. Each document keeps the rate it was issued at, so its value in rand doesn't shift afterwards.
What happens if the rate changes before the customer pays?
Record the payment in the customer's currency. BX1X converts it at the payment-day rate and posts the difference as an exchange gain or loss in your ledger.
How is VAT handled on foreign invoices?
VAT is converted at the invoice's own locked rate, so your VAT records in rand match the invoice you sent.
Can I pay suppliers in another currency?
Yes. Supplier bills can be in another currency, and a supplier can have a default currency so new bills start in it.
Trading across borders?
Get a demo account and try it with sample data: invoice in another currency, record the payment at a new rate and see the difference land in the books.