UPDATE: We have made some improvements to Multi-currency since its initial release. Please visit this blog post for more details.
We’re pleased to announce that you can now bill customers and collect payment using multiple currencies inside FreshBooks. At first glance, the changes are small and subtle, but they have far-reaching effects throughout your account. Let me take you over most of them:
Foreign currency invoicing
Now, when you create a new invoice (or estimate, or recurring invoice), you’ll be prompted to choose a currency for that invoice. Doesn’t get much simpler than this. The appropriate currency symbol and number formatting will appear dynamically, and carry over to your template.
Helpful exchange rates
Most of your FreshBooks account will continue to work in your base currency. For example, if you’re a USD company, your re-usable items and project rates will continue to be stored in USD. When you put these on a foreign currency invoice, however, a helpful exchange rate widget will let you dynamically mark up (or down) your invoice according to the latest exchange rate data.
Starting now, reports will group values and totals according to the currency in which they take place. There’s a few exceptions, most notably the Profit and Loss report, which will report figures solely in your base currency by averaging exchange rate data over the queried period.
Bonus! Account statement redesign
Even if you don’t plan to make use of our new multi-currency features, there’s still good news: we’ve jazzed up our account statement to look more like our sharp new invoice template. And for the first time, printed account statements will fit in double-windowed envelopes, perfect for snail mailing to your clients.
This is one of the largest releases we’ve ever had the privilege of delivering, and we’re sure you’ve got questions. So, we’ve put together a new multi-currency FAQ to help explain how it all fits together. Of course you’re always welcome to e-mail us or post a message on our forums with inquiries.
So, that about does it. We hope you’ll find this latest set of features both useful and enjoyable. And as always, feedback is both encouraged and greatly appreciated!