Managing currencies and conversions

With your Quaderno account, you have the flexibility to create invoices and credit notes in any currency. Here's how default and accounting currencies work, along with exchange rates and payment management.

Default and Accounting Currencies

• Default Currency: This is the currency Quaderno will use by default for all your invoices. You can easily change it from your account's preferences page.
• Accounting Currency: This is the primary currency in which you keep your books. Quaderno automatically selects it based on the official currency of the country where your company is registered and it cannot be changed directly. If your company moves to another country, you'll need to follow the steps to change your legal entity in Quaderno.

Example: If your company is in Spain (EU) and you issue invoices to your clients in US dollars, your accounting currency will be EUR, while your default currency could be USD.

Exchange Rates

When you issue an invoice in a currency different from your accounting currency, Quaderno will automatically perform the currency conversion.

• By default, Quaderno applies the exchange rate from the European Central Bank corresponding to the invoice's issue date.
• The only exception is if the payment gateway connected to Quaderno provides a specific exchange rate for that transaction; in that case, Quaderno will use that exchange rate.

Important: Once an invoice has been issued, it's not possible to change the currency. If you need to change it, you'll have to cancel the existing invoice and issue a new one.

When you export your invoices in CSV format, you'll have access to all transaction information, both in the original transaction currency and in your accounting currency.

Overdue Payments and Accounting

It's possible that when your client pays an invoice, the exchange rate may have changed from the rate applied when the invoice was issued. If there's any difference between these exchange rates, this discrepancy must be accounted for directly in your accounting books as an exchange difference.