Accounting Ideas

bank accounts for foreign currencies

I guess there will be users like me who have their business transactions in foreign currencies and will have bank accounts in foreign currencies.

For me it would be a complete tool if I could have foreign currency bank accounts in addition to the local currency.

  • Guest
  • Apr 28 2020
  • Great Ideas Delivered
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  • Guest commented
    16 Jun 03:39pm

    its now available in the UK, but isn't actually functional. you cant link to euro bank account, or import csv files, or enter other transactions (every single transaction, whether its for a 2 euro toll fee or a bus ticket, will need to have a customer added. you also cant actually invoice and charge your customers VAT if you happen to be VAT registered).

  • Admin
    Jaime Rein commented
    20 Oct, 2021 07:15pm

    Hello Thank you for your input and voting on this feature we are happy to announce foreign banking is now live in all countries. Here is the help article to help you get up and going. https://help.accounting.sage.com/en-gb/accounting/banking/multi-currency-banking.html

    Thank you From Sage Accounting Team.

  • Guest commented
    13 Oct, 2021 07:56am

    Can someone from Sage please comment in this thread confirming 100% that this feature is live in all regions before I go ahead and sign up again.

    Thank you.

  • Guest commented
    8 Oct, 2021 03:22pm

    I can't see how to change the currency for a new bank account or get a currency option?

  • Guest commented
    7 Oct, 2021 08:26am

    Hi, it says that is delivered but in the version of Spain I don't see how to get to change the currency. Could you explain how to get that option?

  • Guest commented
    5 Oct, 2021 08:18am

    It is currently in the works. Do we have any delivery date?

  • Guest commented
    2 Jul, 2021 08:09am

    For the information of anyone else watching this post, as i am, i emailed the 'Development Experience Design' Director at Sage and received this reply in May 2021.

    Hi

    Thanks for taking the time to get in touch. I’m pleased to be able to tell you that we are now working on foreign currency bank accounts and we hope to release this feature before the end of the year.

    I’ve passed this on to the product manager for this area asked them to update the Ideas forum to reflect this.

    Thanks again

    John

  • Guest commented
    23 Jun, 2021 07:45am

    This is a showstopper. My biz receives payments in foreign (USD) funds and we don't exchange as we use those funds to pay USD expenses. Both need to be tracked appropriately.

  • Guest commented
    21 Jun, 2021 01:14pm

    Plus one for this...


    Just ran into this issue as signed up with Amex ICC (USD card), but couldn't add it because SBC doesn't support currency other than the base currency (Sterling in our case). We're heavily invested in SBC with integrations and our own API's so don't want to "go backwards" to Sage 50cloud as others (and support) have suggested.


    I would be happy to pay additional for this feature.

  • Guest commented
    22 Apr, 2021 08:37am

    As you've only committed to this as 'likely', and i've seen comments on other forums asking for this dating back over a year, it seems unreasonable to have to keep asking / checking back.

    Can we be notified by email if /when it does happen?

    This is such as basic function many businesses need to use every single day, it's frankly ridiculous it's been left out.

  • Guest commented
    22 Apr, 2021 08:30am

    100% yes. The lack of this feature caused us to cancel plans to move to online.
    Likely to go with another provider if this can't be fixed.

  • Guest commented
    25 Jan, 2021 05:38pm

    Yes please, I almost went to Xero because of this, but now I have a workaround.

    It's a massive limitation of the current system and to direct people to "go backwards" to Sage 50 as some of your support team have done is lunacy.

  • Guest commented
    8 Jan, 2021 02:14pm

    Completely agree that this is key - I get payments for a rental into my euro account and it treats them currently as if they are GBP

  • Guest commented
    25 Nov, 2020 01:57pm

    Completely agree with previous comments. It is increasingly common for small businesses to hold foreign currency bank accounts to avoid ludicrous transfer rates and fees. Being able to quote and invoice in a foreign currency, but not reconcile is crazy. Xero has this feature. Please implement!

  • Guest commented
    23 Nov, 2020 03:09pm

    Its a massive deterrent for any Sage 50 clients looking to move to the cloud because the product is limited to UK only bank accounts. We need to be able to add foreign bank accounts and report on the currency too.

  • Guest commented
    21 Jul, 2020 03:27pm

    We have a separate Euro Bank account, currently reconciling transactions is an absolute nightmare. I quote in Euro, and receive payment in Euros to a Euro Bank account. We moved to Online accounting because it 'supported' Foreign currencies for quotes and invoices - banking is a major oversight.

  • Guest commented
    8 May, 2020 03:53pm

    Totally agree