Among the major topics in your business, invoicing should be the least of your worries. With Debitoor, you can invoice each of your clients individually with regards to currency and format.
Invoice currency and format
When you create an invoice, you can choose from any currency listed in Debitoor. The currency of your invoice defines what your customer is charged in.
When receiving payment from a customer invoiced in a foreign currency, the payment is received in that currency, but will automatically be converted to the local currency of your company when going into your bank account. This will be reflected in Debitoor when payment is entered.
The currency shown on the invoice reflects the income your business can pursue. If you do business in your own country with your own currency, this is not a particularly relevant feature.
But when your customer lives in another country with a different currency, it is important to clarify which currency the transaction will occur in.
The invoice should also include the currency code. If you use US dollars, the currency code is USD. If you use Swiss francs, the code is CHF.
Exchange rates
When you receive an international transaction in another currency, you have to use an exchange rate. Usually, this draws on the currency of your country. Normally, the exchange rate of the invoice date is used. In the case of Debitoor, the exchange rate appears automatically but you can also change it manually.
Exchange rates may vary. And indeed, they vary from day to day. So when you do your business calculations, it is important to consider the correct exchange rate for the date the transaction took place.
You can always find the exchange rates at the website of your local bank or other financial websites.
