Multi-Currency Accounting Software Helps Small Business Owners Work Worldwide

When it comes to invoicing, tracking global travel expenses, or paying invoices from far-flung contractors, you need to make sure you have good multi-currency accounting software that empowers you to take care of business in any currency.

Running a small business isn’t like it used to be. Instead of serving only the people in your community, you can do business with customers anywhere in the world. Are you a graphic designer from Idaho with a customer inquiry from Tahiti, Tanzania, or Toronto? No problem! All you need is Wi-Fi and a can-do attitude.

On the flip side, you might want to hire a talented contractor who lives halfway around the world to work on one of your projects. You have the technology to make that happen.

Fortunately, FreshBooks has got your back. More than 30 million customers have used FreshBooks, spread out across 160+ countries. As a result, our software is available in 16 languages. And we have hundreds of currency options so there are no barriers when it comes to billing or tracking expenses when you travel.

Forget about currency confusion. It’s not a thing if you’re a FreshBooks customer. Here’s how it works.

Customizing Invoices for Multiple Currencies

When it’s time to invoice a client who operates in a different currency than you, it’s simple to convert to the appropriate dollar (or euro, dinar, peso, or koruna as the case may be) in FreshBooks.

We support a variety of currencies and languages such as:

• English
• Danish
• Dutch
• Estonian
• French
• German
• Greek
• Italian
• Norwegian
• Portuguese
• Romanian
• Spanish
• Spanish (Latin America)
• Swedish

On every invoice, you have the option to select the language and currency of your choice. And once you set up a client in a particular currency, that becomes the default going forward so you never have to specify the currency again.

Managing Expenses in Multiple Currencies

Do you travel to and from your global clients? You probably rack up expenses like transportation, accommodations, and meals. There’s no need to manually do the math when it comes to entering your expenses in FreshBooks.

For every expense, you can choose which currency it was purchased in.

Keeping an Eye on Invoices and Expenses in Multiple Currencies

One of the most popular features of FreshBooks is the dashboard where small business owners can get an at-a-glance view of helpful business information such as:

• Outstanding revenue
• Total profit (revenue minus expenses)
• Spending

With multi-currency accounting, you’ll have a dashboard for every currency you do business in. It’s a simple toggle to switch between them and you’ll get the big picture whenever you want it.

And if you want to take a deeper dive, or share your financials with your bookkeeper or accountant, you can view reports like Invoice Details, Expense Report, Revenue by Client, and Profit & Loss in each currency you work with.

Multi-Currency Accounting: Wherever, Whenever

If the headache of accepting payments or logging expenses in another currency has been holding you back from expanding your small business, you can set aside your hesitation. Multi-currency accounting software will keep you doing your thing wherever you want to work.

This post was updated in October 2021.