Create a foreign currency invoice or bill

If your business issues invoices or makes purchases in a foreign currency, Wave automatically tracks how these values convert to your business currency.

Create a foreign currency invoice

Create a foreign currency bill

Create a foreign currency invoice

1. On the left-side menu, select Sales & Payments > Invoices, then click Create an invoice.
2. Fill out the invoice with your customer, due date, line items, and any applicable taxes or discounts.
3. Next to the Total at the bottom, change the currency type to the currency you will be receiving. An estimated currency conversion line will appear showing the current approximate conversion rate and the new invoice total.
4. Click Save.

Learn how to Record a payment on a foreign currency invoice.

The approximate currency exchange is referred to as the Unrealized Gain or Loss. When you anticipate that you’ll be exchanging a foreign currency at a future date, Wave keeps track of the fluctuation in the exchange rates for you.

When you approve the invoice, the bookkeeping reflects the expected currency conversion rate on the date that the invoice was created. If you look at your balance sheet, an automated entry is created as an Unrealized Gain on Foreign Exchange if the exchange rate is higher than it was on the day the invoice was created, or an Unrealized Loss on Foreign Exchange if the exchange rate is lower than the day the invoice was created.

Create a foreign currency bill

1. On the left-side menu, select Purchases > Bills, then click Create a bill.
2. Fill out the bill with your vendor, due date, line items, and any applicable taxes.
3. Change the currency to match the bill you received.
4. Click Save.

Learn how to Record a payment on a foreign currency bill.