Multiple Currency at a fixed rate
Right now the way Cashboard supports multiple currencies doesn't work for me.
I'd like to set projects/estimates/invoices at a fixed conversion rate for my customers, or absorb the currency costs instead of my customers.
We are based in GBP, but our client in Norway are struggling with paying their bills as bank transfers, since the printed (PDF) invoice shows an amount but the registered payment on Cashboard would show a different one, creating remainders that puzzle our clients and create headaches with our book keeping in multiple currency...
It would be great if they was an option of using a fixed conversion rate (on teh date of issue, for instance) and we would absorb the conversion rate fluctuation.
I hope this is implemented soon.
Otherwise, fantastic service, as I advertise it everywhere I go!
Mike Witherspoon commented
I have a customer, and Cashboard prospect, who would like to see this feature. They do work and bill in three currencies. As Cashboard is currently set up, they would need 3 instances to bill in three currencies. Would it be possible to set billing currency per client, better yet, per project?
Philip Evans commented
A HUGE FLAW from an otherwise BRILLIANT service. Please changes this as soon as possible.
Michael McCullough commented
I wanted to provide some feedback how I think this should be implemented:
The edit invoice function should allow you to select a currency and select the rate. if you want to turn that feature on, a new column appears in the invoice line item allowing you to enter in the amount of the foreign currency. The local currency box might be greyed out (disabled) but is auto updated when the foreign amount is entered (the exchange rate must have been entered to calculate that formula). Will try an get a designer to mark it up and we'll blog about it.
Michael McCullough commented
I heard this feature is coming this year! This will really help anyone that bills in multiple currencies...
I second Bastian. I need to bill the UK in GBP, but I use US$. So conversion is a pain.
This is my only real problem with your otherwise pretty damned good service.
Yes. Currency is one area that needs attention. Generally, I need to be able to:
1. Bill a customer in any particaular currency, and translate to my home
2. The ability to override the fx tate by cashbaord to a fixed amount determined by me. We use saasu for GL - it does this type of thing v.nicely: www.saasu.com
Oh goodie, my suggestion had already been posted. http://cashboard.uservoice.com/forums/3765-feature-requests/suggestions/818697-setting-project-or-client-specific-currency-at-a-f
Anyway. 3 votes from me.
This is really important to me.
I have clients in the UK who I need to bill in GBP.
Let's assume I need to invoice someone in the UK 2000 GBP every month. My account is set up in Euros.
Right now I have to:
1- Manually calculate the approximate EUR value, which I need to put in. I use google for that. http://www.google.com/search?sourceid=chrome&ie=UTF-8&q=2000+gbp+to+eur
2- Then I have to adjust that value, by clicking on edit, so that on the invoice it actually says 2000 GBP. I won't know if I have the correct amount until I click "Save"......
3- If the amount is not correct, I have to repeat step 2 again. Usually 3 or 4 times before I get it right.
4- If a few days/weeks later I need to re-send or change the invoice..... Guess what? I changes the GBP amount to whatever the exchange rate is on that particular date!
I'm with the rest of the folks on this one. It's the single most irritating thing for me about Cashboard.
I've been trying http://invoicemachine.com , and it doesn't have this problem.
I don't use any of the time tracking tools in Cashboard, but on the reporting side Cashboard is a lot stronger then InvoiceMachine, so I'd rather not switch.
@Cashboard: Please try and get this done, or at the very least...... give a live currency conversion preview, and the option for it not to change the currency conversion after initial creation of the invoice.
I've voted for this almost a year ago.
John Ferguson Smart commented
Yes, I would need this feature too. Most of my clients are billed for an agreed amount or rate in a foreign currency - they don't care about the exchange rates, they just need to be able to pay in their own currency. Currently doing this in cachboard is very messy.
Michael C. commented
This is probably THE most important thing I would like to see added right now. Currently, I bill everyone in Currency ABC, my default. Client X, however, cannot pay in Currency ABC - they can only pay in Currency XYZ. So although they may see the estimated / approximated value in their currency, it's not getting input into the system as such, and therefore, I need to add foreign exchange rate differences and fees INTO my invoices... AFTER THE FACT! Otherwise I get an imbalance in the books, which causes Cashboard to either inform me than an invoice has not been paid in full and suggest that I send Client ABC the multi-invoice thing, or Cashboard insisting that "I owe them more work".
VERY interested on this. It is essential if you work with international customers. You are expected to estimate and bill on their currency.
John Hovda commented
I am also interested in seeing this. RIght now it is messy to support customers in multiple currencies.
Sorry, didn't know the description was all I had.
I need to be able to bill a customer in his home currency without a conversion. Meaning I need the source to be the same as his home, instead of the source being my home currency, and the conversion then causes the amount to change. I want the amount to be the same as I quoted the customer.