Accounting Ideas

Remove the GBP equivalent and exchange rate from currency invoices

We need our EUR and USD invoices to NOT show the GBP equivalent or exchange rate as several of our clients have used the GBP equivalent to get a slightly better rate. This doesn't sound so bad in theory, however in practice this means that they then pay GBP into our EUR/USD accounts and the bank takes a huge chunk in exchange rate differences. Many of our €1k invoices turn into €900 payments after the exchange rate differences and bank charges hit so we lose 10% of our income on these clients. We've written it in the notes section but it doesn't get seen or is ignored. Our clients believe that they are paying correctly and get upset when we chase the shortfalls so we are also in danger of losing them while some refuse to pay the shortfall point blank. Only the banks benefit!

  • Guest
  • Dec 9 2021
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  • Guest commented
    4 Dec, 2023 10:05am

    I'd also like to be given the option. My client just came back to me confused, wondering why he's being shown the exchange rate given that it'll depend on what it happens to be on the day he makes the payment.

    Personally I really don't see why it's shown on the invoice in the first place. If it's purely for our own internal accounting purposes, then it should be tracked internally. It shouldn't be shown on the invoice, which is clearly designed for external use.

    It seems some in the comments do want the rate to be shown, but at the very least, it would be good to be able to modify how that rate is shown. For example, it would be sufficient for us to have the line show:

    For reference, exchange rate on DD/MM/YYYY: £1 GBP = € xxxx EUR

    In other words, something to make it clear that this line is there for information only.

  • Guest commented
    15 Jun, 2023 12:09pm

    Agreed,should be optional

  • Guest commented
    5 May, 2023 10:05am

    Yes - should have option to turn it on or off depending on needs

  • Guest commented
    29 Nov, 2022 04:00pm

    Agree, the customer doesn't need to see the rate we have translated the Currency amount in our books. I'm having to manually redo the invoices to remove it which is extra work. There should be an option in settings.

  • Guest commented
    12 Oct, 2022 12:20pm

    Having the ability to select this feature when we need it would be great. Most of the time it just causes problems and we have to edit the PDF and send the invoice manually instead.

  • Guest commented
    16 Sep, 2022 08:05am

    We have had a lot of issues with customers because of the exchange rate and GBP equivalent being on their quotes and invoices. It is extremely confusing for them. Please please please can it be removed!

  • Guest commented
    23 Aug, 2022 01:04pm

    Same here, received payment in a different currency. Would be nice to have hide/show in currency or invoice parameters.

  • Guest commented
    10 May, 2022 02:28pm

    This confuses customers since they are paying with their own currencies. Equivalent amount does not matter to them especially I have foreign currencies account. The equivalent amount should be for internal used purpose if not what's the purpose of foreign currency invoice?!

  • Guest commented
    6 Apr, 2022 06:49pm

    It would be nice to have the option to hide this as it only adds confusion for our customers.

  • Guest commented
    16 Feb, 2022 03:39pm

    Hi - if we could have the option to retain this feature if we need it we would be very grateful as we value the ability to show the GBP equiv rate on invoices.