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Foreign and local currencies, invoicing and bank transactions



I am trying to get my head around foreign currency invoicing. I have setup multi-currency support and I have created a GBP bank account and a EUR bank account. The bank transactions are automatically imported in their respective accounts. I have two invoicing cases:

  1. invoicing in EUR with GBP rebillable expenses and EUR time events and then reconciling in my EUR bank account
  2. invoicing in GBP with GBP rebillable expenses and GBP time events and then reconciling in my EUR bank account

How should I do that?



Hi @cedev

If you rebill an invoice, the new sales invoice will be created as the default currency of the client you rebill to. However, I have noticed something here which I’m going to query with our development team relating to the exchange rate.

So for example, if you rebill a EUR invoice to a client with GBP as the default currency, this is converted to the GBP equivalent using the purchase invoices exchange rate.

With any non-GBP invoice that’s being paid in GBP, the only way to allocate a payment to it, is to do it from the invoice using the “Log Payment” button. If the currency is the same, you can tag it from the bank account directly.

If it’s the other way around (paying a GBP invoice using a non-GBP currency), you would need to use a holding account of some sort to do the conversion to GBP first, and then tag the payment. Or the other option would be to invoice in the same currency as the payment.

So to answer your two points:

  1. If you rebill the GBP purchase invoices to a EUR sales invoice, it will assume the GBP value (a straight 1-to-1 conversion). It’s not currently possible to rebill both time and item lines, but we can consider this for future development
  2. As per the explanation above, you would need to transfer the EUR to a holding account, or convert the invoice to EUR.

Does that make sense?



Thank you for your feedback.

  1. Is adding support for exchange rate of rebilled items is something that you will consider?
  2. I have logged the payment in the GBP account to tag the invoice in GBP and then have created a transfer from GBP account to EUR account.


We’re happy to consider most suggestions, but many of them are developed based on the interest from (and benefit to) the QuickFile community.

That sounds fine :+1:


Wouldn’t it be considered as a bug?


I’m awaiting clarification on this as I’m unsure at this stage whether it should be supported or not.


Sorry I did not understand that you referred to this earlier.


Hi Mathew,

Have you had a reply?



Hello @cedev

Not as of yet I’m afraid. I will be sure to update you as soon as I’ve had a response however.

Currently, we only support same currency rebilling, or from non-GBP to GBP (not the other way around, or to another currency). The non-GBP to GBP uses the exchange rate of the purchase invoice.

We can certainly consider other currencies as future development, but we would like to support for this from the wider community (you’re welcome to start a feature request for this if you wish).


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