About Multicurrency

About Multicurrency

  • Using multicurrency you can invoice your customers and receive payments in 160 currencies. Clickentry displays the currency movements in your transactions and are updated periodically.  
  • In every pricing plan, you can use multicurrency to add foreign currencies to Clickentry. 

How it Works 

  • With any pricing plan, Clickentry allows you to send invoices, quotes and purchase orders, or receive bills and payments in over 160 currencies. 
  • In Clickentry, forex or foreign exchange rates are updated periodically. Whatever the final rate is at 11 pm will be the official rate of the day or mid-market rate. The time zone you select in your organization’s financial setting determines When it will be 11 pm in your organization.  
  • Currency movements are shown on your transactions and in reports so that you can always see how changes affect your organisation’s cashflow. 
  • Clickentry shows the balances revalued in your base currency. In the Foreign Currency Gains and Losses report you can also see the total foreign currency exposure for each currency. 

Setting Up 

  • While adding your organisation in Clickentry, you can choose your base currency. This will be your default currency and will be used in most reports. Clickentry doesn’t allow you to change your base currency after you have added your organisation.  
  • You can add foreign currencies anytime.  
  • You can set up your foreign currency bank accounts then add your foreign currency opening balances to them. You can keep track of currency movements by running reports. 
  • You can add any number of currencies as per your requirement, but Clickentry won’t let you delete currencies once you have used them system. 

Run Reports in Multicurrency 

You can run the following reports to view the account balances in a specific currency.  

  • Profit and Loss report   
  • Balance Sheet 
  • Budget Variance report 

You can run the following reports to view a list of invoices or bills assigned to a specific currency: 

  • Account Transactions report  
  • Customer Invoice report 
  • Supplier Invoice report 

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