Any currency, one set of books
Invoice in euros, pay a supplier in dollars, keep your books in your own money — every rate published and dated, every difference booked honestly.
Your books have one currency. Your customers and suppliers do not always share it. From today, Papertools lets every document speak the money it was actually agreed in, while your books stay in yours — and every conversion is a published rate you can see, or a figure you typed yourself.
Available on the Business plan and up.
Documents in any currency
Invoices, estimates, sales receipts, bills, expenses, purchase orders, credit notes, supplier credit notes and both kinds of recurring template can now be in another currency. Pick it from the currency row — searchable by code or by name — and the whole document follows: line prices, totals, the PDF, the customer's payment page. A customer or vendor can carry a usual currency, and new documents for them start in it.
The rate is always on the paper
Next to the currency sits the rate, pre-filled from the day's published rate and labelled with where it came from and which day — "ECB rate for 24 Sep", never a bare number. Papertools holds daily rates back to 1999 and fetches new ones every night. If you have a better figure, type it; it is stored as your rate, in your name. If a typed rate is a long way from the feed we ask you to confirm it, which is the one guard that catches a rate typed upside down.
A document's rate is frozen when it is issued. Editing a draft may change it; editing an issued invoice does not.
Getting paid, and paying
When a foreign invoice is paid into your own-currency account, Papertools asks the one thing only your bank knows: how much actually reached your account. The difference between that and what the invoice was worth is your exchange gain or loss, booked automatically. The same question is asked when you pay a foreign bill.
We never pre-fill that field with a rate — that would quietly book a zero gain on every foreign payment. Instead the published rate is offered beside it: "at the published rate that's about $1,296.40 — enter what your statement shows, or use this figure." One tap takes it, and the books record that you took the published rate rather than pretending it was observed.
Everything a payment can do, it can do in another currency: one payment across several invoices or bills, overpayments held as credit in the document's own currency, credit notes and deposits spent on documents in the same currency, refunds — of payments, of sales, of deposits, of advances — handing money back at the figure that actually moved.
Bank accounts in their own money
A bank account can be in a currency other than your books'. Its register, its statement import and its matching all work in the account's money, and a foreign invoice paid straight from a statement line asks for the invoice-money figure only when the two differ. Money can even land in a third currency — a euro invoice paid into a US-dollar account — and the books carry both facts.
At month end, Settings → Locked months can revalue every foreign balance at the day's published rate before you lock the month, and reverse it the next morning.
Tax at its own rate
Some tax authorities want the tax converted at a different rate from the document. Settings → Tax → Foreign currencies asks the question in plain words: the document's rate, the rate on the day of supply, one rate per month that you set, or a rate you type on each document. Unanswered means the document's rate, which is fine for most.
Reports that add up
Every report reads your books' currency, so a total is a total. Lists show each row in its own money and sum in yours; where a sum would mix currencies, it says so instead of adding apples to oranges. The aging report also breaks what you are owed down by currency, because a euro debt is chased in euros.
Nothing changes for a workspace that only ever uses one currency — the rows stay hidden until you pick a second one.