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

To 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. Wave will then show an estimated currency conversion line with the current approximate conversion rate and the new invoice total in your business currency.
4. Click Save.

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

Wave calls the difference between the expected and actual currency exchange rate the Unrealized Gain or Loss. This means Wave keeps track of how the exchange rate fluctuates for you until the payment is processed.

When you approve the invoice, Wave records the expected currency conversion rate for that day. On your balance sheet, Wave automatically creates an entry for an Unrealized Gain on Foreign Exchange if the exchange rate later goes up, or an Unrealized Loss on Foreign Exchange if the exchange rate goes down.

Create a foreign currency bill

To 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.