How does currency conversion work on AutoEntry?
AutoEntry displays the Net, VAT and Total as per the invoice and displays the currency used. If the currency on the invoice differs from the home currency of the company then AutoEntry automatically converts the total to the home currency using the exchange rate for the date of the invoice.
No Currency Conversion:
With Currency Conversion:
How can I select currency conversion on my invoices?
If required for any reason the currency is incorrect another currency can be selected from the drop-down menu and the total is automatically recalculated.
This conversion is done automatically, but if your company is integrated with accounting software, the figure published will depend on the package you use.
If there is a multi-currency option enabled in your package, AutoEntry will post the figures in the foreign currency.
If there is no multi-currency option then they will be posted in the base currency as converted by AutoEntry. However, as all accountancy packages treat currency differently we aim to apply the above as a standard.