How to invoice in another currency

Summary

Record invoices, credit notes, payments, and receipts in foreign currencies in Sage Accounting Plus.

Description

Sage Accounting Plus uses the daily Federal Reserve System (FRS) rates, or you can keep the most recent rate. Track exchange gains or losses caused by rate changes.

Resolution

NOTE:

If you’re missing this feature, it's because you use Sage Accounting Start or Standard. Only Sage Accounting Plus supports foreign currency transactions for customers and vendors.  See the article How to manage subscriptions to upgrade.

How to set up foreign currency transactions

Before you start entering transactions in other currencies, you must enable foreign currency transactions and enter the desired currencies into your contacts' records.

Enable foreign currency

See the article How to set up multi-currency.

Set the currency in the Contact record

  1. Open Contacts. 
  2. Select Customers or Vendors if your menu separates them. 
  3. Open the customer or vendor record. 
  4. Select Options. 
  5. In Account Details, select Edit. 
  6. Select a value in the Currency field. 
  7. Select Save.

NOTE:

After you create an invoice for a contact, Sage Accounting locks the contact currency.
Create a new contact to invoice the same customer in a different currency.

Understand how foreign currency posting works

After you enable multi-currency, Sage Accounting shows transaction amounts in the contact’s currency. Sage Accounting also shows the exchange rate and the base-currency value. Record foreign exchange fees for receipts and payments in your base currency. 

Banking activity always shows values in your base currency. Open the payment or receipt in the bank account to view the foreign amount and rate. Sage Accounting posts journals and miscellaneous entries only in the base currency. Sage Accounting doesn’t support quick entries in a foreign currency.

Create Invoices, Credit Notes, and Quotes

Create invoices, credit notes, and quotes the same way you do for base currency. Select the Contact that you set up the Currency details for.

  • Review the exchange rate at the top of the invoice or credit note
  • Override the rate when you use a default rate instead of the current rates 
  • Enter and review line items in the contact’s currency 
  • Let Sage convert default product prices and service rates using the exchange rate 
If you change the contact to one with a different currency, Sage prompts you to convert values or keep them.
For converted quotes or draft documents, Sage applies the original exchange rate. Update the Exchange rate field when the rate has changed.

▼Record a Receipt or Payment for a foreign currency invoice

Verify additional information when you record a foreign currency receipt or payment in an invoice.

  1. For Customer Receipts, go to Sales, and Sales invoices.
    • For Vendor Payments, select Expenses and Vendor bills
  2. Select the invoice, and then click Save Payment.
  3. Review or enter the following information:

    Amount received* Enter the total amount paid in the foreign currency. The system displays the amount in your base currency under Amount received. 
    Discount Indicates any discounts offered to the customer.
    Exchange rates If you’re using current exchange rates, this is the current rate of the Federal Reserve System (FRS)
    Payment date* Enter the payment date.
    Deposited into the bank account Select the bank account.
    Method Select the payment method.
    Reference (optional) Enter a reference for the receipt.
    Foreign exchange fees Enter any bank charges incurred for this collection. Exchange fees are always displayed in your base rate.
  4. Click Save.

▼Prepayments or paying multiple invoices

Use this method to pay multiple invoices at once or record a foreign currency prepayment.
  1. Go to the Banking menu.
  2. Click the bank account.
  3. On the New Entry menu, click Sale/Receipt for Customers.
    • Select Expense/Payment for Vendors
  4. On the Customer Receipt tab, verify the following information:
    Customer/Vendor Choose the supplier or customer from the dropdown list.
    Deposited into the bank account Verify that the correct bank account appears. If you need to change it, choose the desired account from the dropdown list.
    Method Select the payment method.
    Received on*

    Enter the date you received the payment.

     
    Reference (optional) If necessary, enter a reference for this receipt.
    Amount received* Enter the total amount the customer paid in their currency.
    Exchange rates If you use current exchange rates, this is the current rate of the FRS (Federal Reserve System). You can change it, if necessary.
    Foreign exchange fees Enter any bank charges incurred for this collection. Exchange fees are always displayed in your base rate.
  5. Fill in the customer collection as usual.

 

Related Solutions

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How to review foreign exchange gains and losses

Solution Properties

Solution ID
250409201323443
Last Modified Date
Thu Mar 05 19:53:37 UTC 2026
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