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:
- 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
Related pages:
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Creating an invoice exercise — In this exercise you'll create an invoice from the handling orders created in the previous section.
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How to activate and change an Administration's invoice cut-off date for Account statements — Before using the Account statements page, an Administration must be activated by setting a cut-off invoice date. This is to ensure that the due amounts shown for each debtor are relevant from a recent date. The cut off date can be changed if required in the Administration.
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How to add a scannable barcode to the invoice — Add a scannable barcode to the invoice report based upon the invoice number.
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