How to Use Multi-Currency | Xero Accounting Software

How to Use Multi-Currency | Xero Accounting Software


Multi­currency in Xero provides realtime
conversions with exchanges rates for over 160 currencies updated every hour from XE.com.
Set up bank accounts, run reports, invoice your customers, and get paid in any currency. Gains
and losses are calculated instantly so you always have an up to date view of how exchange
rates are affecting your profits. On and of the Xero Premium plans, you can add as many currencies
as you need to operate in. Set them up in advance by going into Currency Settings
in Xero, or you can add them as you go straight from the transaction. Add foreign currency
bank accounts that can pull your bank activity into Xero just like your local currency bank accounts. Easily create foreign currency invoices using
the automatically updated exchange rate or an agreed rate you and enter manually, in this
case, clearly showing how the currency movement results in unrealized gains. You can hover
over a currency code and instantly see the latest currency exchange rates. Reports are automatically
revalued in your local currency and the relevant exchange rates are added to the report
as a footnote. Your balance sheet will revalue your bank accounts, accounts payable and accounts
receivable in real time to provide you with a complete and accurate financial position.
The Foreign Currency Summary Report shows an overview of your foreign currency exposure,
along with your realized gains and losses, and your bank account revaluations. No more complicated reconciliations and exchange
rate guesswork. Manage your international business with real time currency movements
in Xero.

One thought on “How to Use Multi-Currency | Xero Accounting Software

  1. Xero how to: use multi-currency

    If you need to invoice customers in different currencies, here's a look at how to do it in Xero: 160 real-time exchange rates, reporting, bank account management and a view of the currency gains and losses. ^OG

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