Currencies and conversions

With your Quaderno account, you can create invoices in any currency. If you’re using one of our integrations, invoices are automatically generated in the transaction currency indicated by your payment processor.

If you issue invoices in currencies that differ from your accounting currency, then you’ll see currency conversions. Quaderno applies the European Central Bank exchange rate for the day the invoice is issued. 

In some cases, the payment processor may already indicate an exchange rate. In that case, Quaderno applies the indicated exchange rate.

For example, if a business in Germany issues all invoices in USD, they could see the following situation if they have customers in the UK. The company's accounting currency would be EUR.

When they open an invoice in Documents > Invoices, they’ll automatically see the exchange amount in EUR.

When the customer in the UK receives the invoice, they’ll conveniently see the VAT amount in their own reporting currency, GBP.

If you’re creating invoices manually, then the exchange rate for the date the invoice is created would apply to the invoice total. Once an invoice has been created, the currency cannot be changed.

If your customer pays the invoice at a later date, the exchange rate for the payment amount could differ from the original exchange rate applied on the invoice. If there’s a difference between these, this discrepancy can be accounted for in your accounting records.

When you export your invoices in CSV format, you’ll have all the necessary information in the original transaction currency and your accounting currency. 

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