Clients that trade with different currencies can now benefit from a better financial insight due to new exchange rate functionality.
Registering exchange rate with invoice
An exchange rate is set per invoice. With this, System One can easily calculate totals of multiple invoices with mixed currencies and display these in one uniform currency. Even when you sent out your documents in different currencies!
So how does this work in System One?
Each bookkeeping has a standard currency. This currency is preselected when making invoices and contracts. You can change the preselected currency per document. Upon changing the currency, an input is displayed that holds the exchange rate. This input is filled with the most actual exchange rate. If you want to use a different exchange rate, you can change the value.
Totals & statistics
The most important advantage of the exchange rate functionality can be found in the totals & statistics for invoices and contracts. This overview now shows all amounts in one uniform currency, based on the information that has been entered per contract and invoice.
Actual exchange rates
A table with all the exchange rates that System One features can be found under Settings > overviews > exchange rates. These rates are updated daily.