Invoicing in Multiple Currencies

Create invoices and record payments in any currency with Officaid.

Go Global with Multi-Currency Invoicing

Working with international clients? Officaid lets you create invoices in any currency, so your clients see exactly what they owe in their local currency without conversion confusion. Payments are tracked in the original currency too, giving you accurate records of what was actually received.

How Multi-Currency Invoicing Works

When you create an invoice in a foreign currency, Officaid handles the complexity behind the scenes:

Your client sees the invoice in their currency with clear totals.
When you record a payment, you enter the conversion rate or the amount in your default currency.
Your financial reports show values converted to your default currency, with original amounts noted for reference.

This means you can work seamlessly with clients around the world while keeping your accounting accurate in your home currency.

Before You Begin

Make sure you have the following set up in your Officaid account:

At least one additional currency enabled in your currency settings
A multi-currency payment account if you want to receive funds in foreign currency (optional)

Need to add more currencies? See Setting Up Your Operating Currencies.

Want to set up a foreign currency bank account? See Multi-Currency Accounts.

Creating an Invoice in a Different Currency

You can select any enabled currency when creating a new invoice. All line items, taxes, and totals will display in your chosen currency.

1 Navigate to Finance → Income and open the Invoices tab.
2 Click + Add New Invoice to create a new invoice.
3 Select your client from the dropdown.
4 Click the Invoice Currency dropdown and select the currency you want to use.
5 Add your line items with prices in the selected currency.
6 Select a Payment Account that matches the currency if you want funds deposited into a specific foreign currency account.
7 Click Add Invoice to save.

The final invoice document will display all amounts in the selected currency, making it clear to your client exactly what they owe.

If you frequently invoice a client in a specific currency, consider setting their default currency in their company record. This will pre-select the currency when creating new invoices for them.

Recording Payments for Multi-Currency Invoices

When you record a payment for a multi-currency invoice, Officaid needs to know the conversion rate so your books stay accurate in your default currency. You have two ways to provide this:

Enter the conversion rate – Type the exchange rate and Officaid calculates the amount in your default currency automatically.
Enter the amount in your default currency – Type the actual amount you received in your home currency and Officaid calculates the conversion rate for you.

Choose whichever method is easier based on the information you have. If your bank statement shows the converted amount, enter that directly. If you know the exchange rate from your bank, enter that instead.

1 Open the multi-currency invoice you received payment for.
2 In the Quick Actions panel, click Record Payment.
3 Review the payment amount in the invoice currency.
4 Enter either the Conversion Rate or the equivalent amount in your default currency.
5 Click Add Payment to save.

Just like regular invoices, you can record partial payments by adjusting the payment amount. Each partial payment can have its own conversion rate, which is useful if exchange rates change between payments.

Why Payments Are Recorded in the Original Currency

Officaid records payments in the same currency as the invoice for several important reasons:

Accuracy – Your invoice and payment records match exactly, showing what was billed and what was paid.
No manual conversion errors – Officaid handles the math, reducing the risk of mistakes.
Clear audit trail – Each transaction shows the actual amount received in the original currency, plus the conversion rate used.
Exchange rate tracking – You have a record of what rate was applied to each payment, which is valuable for accounting and tax purposes.

Viewing Multi-Currency Invoices

Officaid makes it easy to identify and track your foreign currency invoices:

Invoice list – The Currency column shows which currency each invoice uses, so you can spot foreign currency invoices at a glance.
Invoice detail – The invoice header displays the currency, and all amounts are shown in that currency.
Invoice Activity – Payments are displayed in the invoice currency with the conversion rate and default currency equivalent noted.
Financial reports – Multi-currency invoices are converted to your default currency using the applicable exchange rate, with the original foreign currency amount shown in brackets for reference.

Exchange Rates in Reports

Officaid handles exchange rates differently depending on whether an invoice is paid or unpaid:

Unpaid invoices – Officaid uses the latest exchange rate, so your accounts receivable reflects current values. The rate updates automatically until a payment is recorded.
Paid invoices – The conversion rate from the payment is locked in, giving you an accurate historical record of what was actually received.

This approach ensures your reports always show the most relevant values while maintaining accurate records of completed transactions.

Want to learn more about how Officaid handles exchange rates? See How Exchange Rates Work.

Frequently Asked Questions

Can I change the currency after creating an invoice?

Yes, you can edit the invoice and change the currency as long as no payments have been recorded against it. Once a payment is recorded, the currency is locked to ensure your payment records remain consistent.

What exchange rate is used for unpaid invoices in reports?

Officaid automatically uses the latest exchange rate for unpaid invoices. Your accounts receivable reports will always reflect current values based on today's rates. Once a payment is recorded, the rate from that payment is used instead.

Do credit notes and write-offs work with multi-currency invoices?

Yes. Credit notes and write-offs are issued in the same currency as the original invoice. When added, they follow the same conversion logic, so your financial reports remain accurate in your default currency.

Can I invoice in a currency I don't have a bank account for?

Yes. You can create invoices in any enabled currency regardless of your bank accounts. When recording the payment, simply select whichever account the funds were actually deposited into and enter the conversion rate or converted amount.

What if the exchange rate changed between invoicing and payment?

This is common and expected. When you record the payment, you enter the actual conversion rate that applied at the time of payment. Officaid records the difference as a gain or loss on exchange, which is reflected in your financial reports.

Can my client pay in a different currency than the invoice?

Officaid records payments in the invoice currency. If your client paid in a different currency, enter the amount you actually received in your bank account (in your default currency) and Officaid will calculate the effective conversion rate. This keeps your records accurate to what was actually deposited.

What's Next?

Now that you understand multi-currency invoicing, explore these related guides:

Understanding Multi-Currency – Learn the fundamentals of working with multiple currencies in Officaid
Recording a Payment – Mark invoices as paid when you receive funds
Multi-Currency Accounts – Set up bank accounts for receiving foreign currency payments

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