Add a foreign currency bill
This article explains how to add a bill in a currency other than pounds sterling (GBP), such as euros or dollars.
You might need to add a foreign currency bill if you have a supplier based in another country or if you incurred expenses while you were abroad.
Please note:
- You can only enter a bill in one currency as it’s not possible to have multiple line items in different currencies on the same bill. For example, you can’t have one line item in United States dollars (USD) and another in pounds sterling (GBP). These would need to be entered as separate bills instead.
- The supplier you are adding the bill for must be added as a contact, either by uploading their information into FreeAgent, importing them from Basecamp or manually adding them as a new contact, before following the steps below.
Adding a foreign currency bill
Select 'Bills' at the top of the screen.
Select ‘Add new bill’ and follow the steps for adding a bill in FreeAgent.
Choose the currency you want to show on the bill from the ‘Currency’ drop-down menu.
Sales Tax
If you're registered for Sales Tax, be aware that there are different Sales Tax options. If you’re unsure which Sales Tax option you should choose, please ask your accountant. If you have made an online purchase from a company based abroad, then the rules for buying goods and buying services from the EU may apply.
Once you have entered the necessary details for the bill, select ‘Save and Continue’ and then add the relevant line items in the foreign currency.
When entering the purchase, you'll need to enter the Total Price including any Sales Tax.
Recurring bills
If you have selected this bill to recur, the recurring bills will always be converted using the exchange rate on the day they recur. For example, a $100.00 recurring bill will likely fluctuate slightly to reflect the current exchange rates.