📌 Overview: Currency Settings allow you to configure multi-currency support for invoices and payments. The currencies you enable here populate the currency dropdown when you create Clients — and each client’s currency in turn drives the currency on their Invoices, Proformas, Recurring, and Credit Notes.
Open: Settings > Currency. Click Edit in the header to make changes.
📝 Fields / Options
| Field | Description |
|---|---|
| Available Currencies | Multi-select list with currency code, name, and flag. |
| Selected Currencies | Defines the order shown in dropdown menus across the suite. |
| Receive Money in Foreign Currency? | Toggle switch (Yes/No). Controls whether non-INR is allowed on customer-facing transactions. |
| Default Currency | Select one currency as the tenant default (e.g., INR). |
Where Currency Applies
- Yes (foreign-currency receive on) — Client creation shows the currency dropdown. Invoice / Proforma / Recurring / Credit Note inherit the currency from the chosen Client. Payment receipt records the same currency.
- No — All customer-facing documents stay in the tenant default currency.
- Expenses / Reimbursements / Vendor bills / Salary always remain in the tenant default currency, regardless of this setting.
💡 Tip — Transaction Fees “Borne by”: When recording a foreign-currency payment, the “Borne by” flag determines whether the bank/PG fee reduces the credit (Client borne — fee taken from the receipt) or is booked as a separate Bank Charges expense (We borne — full credit recorded). Pick the option that matches your contract with the client.
⚙️ System Impact
- Applies only to Invoices & Payments Received.
- Does not apply to expenses, reimbursements, or vendor bills.
- Default currency will be shown across finance modules.
✅ Best Practices
- Set INR as default for Indian businesses.
- Enable foreign currencies only if needed.
- Check GST compliance before billing in foreign currency.
📌 Out of scope: Unrealized forex revaluation (mark-to-market on open foreign-currency receivables) is currently not automated. Realized forex gain/loss on payment receipt is captured.