Process foreign currency transactions

Solution Properties

Solution ID:

240711141728957

Last Modified Date:

Thu Sep 03 10:57:27 UTC 2026

Taxonomy Path:

Case category//How do I...//processing

Author:

[email protected]

Process foreign currency transactions

Description

NOTE:

Foreign currency is only available in Sage Accounting Plus. To upgrade, read how to upgrade your Sage subscription.

Processing foreign currency transactions follows the same processes as base currency transactions, with added exchange rate fields.

Once you've set up foreign currency transactions, you need to create a foreign currency bank account and set a default currency for a contact. Transactions show an exchange rate field. It uses the latest European Central Bank (ECB) Rate if you selected live rates. You can change this if needed.

Cause

Resolution

Processing foreign currency transactions

Once you’ve set up foreign currency transactions, you’ll notice some differences:

Your transactions now appear in the relevant contact's currency
You see the exchange rate used and the value in your base currency
You can't use foreign currency on quick entries

To learn more about processing a specific transaction type, select the relevant option below.

▼ Creating Invoices, credit notes and quotes

While creating invoices, credits or quotes for a foreign currency contact, the Currency and Exchange rate display above the invoice details. The ECB exchange rate automatically pulls through, but you can overwrite it.

If you convert a quote or draft invoice, the original exchange rate applies unless you overwrite it.

For more information on creating these transactions, read:

Below are the extra foreign currency fields:

Exchange Rate*	When using live exchange rates, this is the current rate from the ECB. You can overwrite this.
Currency Charges £	Enter any charges you incurred from your bank for this refund. Currency charges always appear in your base rate.

NOTE:

You can only pay an invoice or credit note that you've issued in the same currency. For example, you can't pay a Euro invoice in GBP.

▼ Customer receipts and supplier payments

You can only create foreign currency Customer Receipts and Supplier Payments manually. Bank feeds and bank statement imports aren't available for foreign currency transactions.

When creating these transaction types, the ECB exchange rate automatically pulls through or you can overwrite your own.

For more information on creating payments and receipts, read:

Below are the extra foreign currency fields:

Exchange Rate*	If you use live exchange rates, this is the current rate from the ECB. You can overwrite this.
Currency Charges £	Enter any charges you incurred from your bank for this receipt. Currency charges always appear in your base rate.

NOTE:

You can't create Other Payments and Other Receipts in a foreign currency. Allocate Payments and Receipts to other foreign currency transactions.

▼ Customer and supplier refunds

You can use the customer or supplier refund option to refund credit notes or payments on account in a foreign currency.

For more information on creating these refunds, read:

Below are the extra foreign currency fields:

Exchange Rate*	When using live exchange rates, this is the current rate from the ECB. You can overwrite this.
Currency Charges £	Enter any charges you incurred from your bank for this refund. Currency charges always appear in your base rate.

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