How to Invoice in a new Currency - Creating New Currencies & Forms of Payment

Question:     

Currently, we only ever take payments and Invoice in one currency which is EUR, but I have a Client who would like to be Invoiced in CHF rather than EUR.  Can this be done within FBO One? 

Answer:      

Yes, this can be done following the steps below

Expected Result:

All order amounts & Invoices for Clients can automatically appear in CHF rather than EUR where specified


Step-by-Step Guide:

  1. Create the new Currency 
  • As the only currency currently used, is EUR a new one must be created. To do this go to Administration > Back Office > Currencies (or use the Search box, top left to find 'Currencies')
  • Next, use the 'Add new' button and enter the 3-letter Currency Code, in this case CHF. Click 'Save'


2. Enter the Exchange Rate for the new Currency  

  • Again in Administration > Back Office, locate the 'Exchange Rates' section (just below 'Currencies')
  • Use the 'Add new' button to define the Exchange rate you wish to apply when Converting from EUR-CHF
  • Use the 'Valid from' field to define the date from which this rate is applicable, then 'Save'


3. Create the new Form(s) of Payment

  • Go to Administration > Payments > Forms of Payment
  • Use the 'Add new' button to add the new Form(s) of Payment (i.e. for CHF you could have 'Cash CHF' as well as 'Visa CHF' etc.
  • See also Forms of payment (Fields) for help in creating a New Form of payment

In this case three Forms of Payment have been created for the CHF Currency:


4. Assign the new Form of Payment to the Client(s) as a Default

  • Use the Search box, top right, to locate the Debtor
  • Under the 'Default Payment' tab, the default form of Payment (per location) can be selected
  • In this case 'BILL CHF' was selected



5. Test and Assign the new Form of Payment

  • If we now create an order for the Client requiring Invoices in CHF, the amounts both within the order and on the proforma appear in CHF.
  • Check the amounts to ensure your Exchange rate is correct



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