Process foreign currency transactions

Summary

Record transactions in different currencies with Sage Accounting.

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.

▼ See a list of the supported foreign currencies
  • Australian Dollar (AUD)
  • Bulgarian Lev (BGN)
  • Brazilian Real (BRL)
  • Canadian Dollar (CAD)
  • Swiss Franc (CHF)
  • Yuan Renminbi (CNY)
  • Czech Koruna (CZK)
  • Danish Krone (DKK)
  • Euro (EUR)
  • Pound Sterling (GBP)
  • Hong Kong Dollar (HKD)
  • Croatian Kuna (HRK)
  • Hungarian Forint (HUF)
  • Indonesian Rupiah (IDR)
  • Israeli New Shekel (ILS)
  • Indian Rupee (INR)
  • Japanese Yen (JPY)
  • Korean Won (KRW)
  • Lithuanian Litas (LTL)
  • Latvian Lats (LVL)
  • Mexican Nuevo Peso (MXN)
  • Malaysian Ringgit (MYR)
  • Norwegian Krone (NOK)
  • New Zealand Dollar (NZD)
  • Philippine Peso (PHP)
  • Polish Zloty (PLN)
  • Romanian New Leu (RON)
  • Russian Ruble (RUB)
  • Swedish Krona (SEK)
  • Singapore Dollar (SGD)
  • Thai Baht (THB)
  • Turkish Lira (TRY)
  • US Dollar (USD)
  • South African Rand (ZAR)

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.

Solution Properties

Solution ID
240711141728957
Last Modified Date
Wed Sep 23 10:15:18 UTC 2026
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