Since we know our customers can be anywhere around the world, ZipBooks gives you the chance to do business in almost any currency that you’d like.
Here’s how to specify or change your default currency type:
- Log in to ZipBooks, and select More from the top menu.
- Under Account, click on Preferences.
- Under General Preferences, click on Account Currency. Use the dropdown menu to choose the currency you’ll be using to keep track of your transactions and process reports.
- Click Save.
Now when you create reports, all of the transactions, including invoices, made in that currency will appear. Repeat these steps to create and save reports for any currency that you need to see.
Reports only include your default currency
You can also specify a currency for each invoice. When you’re creating the invoice, simply click on the dollar sign toward the top of your invoice, and choose the currency. Just remember that your reports will be in the account currency that you’ve chosen.
If you want all of your invoices, regardless of currency, to appear on one report, you’ll need to change the amounts on your invoice back to your default currency after sending them to your customers.
Let’s say your default currency is U.S. dollars, but you have customers in Brazil and Mexico that prefer to be billed in Brazilian Reals and Mexican Pesos. Create their invoices in those respective currencies, and send them to your customers. After you receive payments, find those invoices, and calculate what those amounts would be in U.S. dollars. Then, change the invoice back to USD and put in the appropriate amounts. Those invoices will then appear on your reports.
In other words, all transactions stay in the currency in which they are created (unless you manually change it). Reports will only include transactions in the default currency.