Introduction
Qargo has multi currency built in, you can invoice in multiple currencies and you can also keep track of exchange rate to display both currencies on the invoice.
Configuration for multicurrency
You first need to activate the currencies that you want to use:
You need to go to Configuration => Organisation settings where you have the following configurations:
Allowed customer currencies: these are the currencies that you want to invoice your customers in so they will be used for your sales invoices.
Allowed subcontractor currencies: these are the currencies that your subcontractors send you invoices in, so it will be used for purchase invoices
Legal currency: this is the main currency that you work with
This will allow you to invoice in multiple currencies but it won't keep track of the exchange rates so the invoice will only contain the amount in the customer currency.
Configuration to use exchange rates
If you want to use exchange rates, then you need to go to Configuration => Accounting and scroll to the bottom:
Click on the edit button next to the exchange rate, this will then display the table where you can fill in your exchange rates:
Once you fill in your exchange rate, you can just press the save button:
We only let you add exchange rates for past dates, not for future dates. But when you create an invoice, we will always use the most recent exchange rate that we find. In the example above the exchange rate for 1/8/24 is filled in. When I create an invoice on the 20th of August then he will look back in the table and then use the exchange rate for the first of august.
If you change an exchange rate in the past, then existing invoices won't be updated because they can already be sent to customers and your accounting systems so we don't risk making changes to those.
Creating invoices
When you create an invoice, then you will see the following at the top:
Invoice date is when the invoice was created
Exchange rate date is date of the most recent exchange rate that we found. We will use the exchange rate on that date. If you see that this date is wrong, you can still adapt it which will update the exchange rate that we used.
You can also show the exchange rate and the converted amount on the pdf.
Reporting
We currently only use the exchange rates to display on the invoice, we don't use them for our reporting.