Is it possible to have two currencies in one invoice? For example product1 is in EUR, and product2 is in USD.
I don’t think this is possible. Furthermore, from my accounting courses (long ago…) I remember that it is mandatory to have only one currency on an invoice. Multiple currencies on one invoice would jeopardize the booking of the transaction, the payment and too many otehr things.
Can you think of a use case in a business where this is required? Curious.
Thanks for your replies.
I didnt take accounting courses. I would have to do some self studying.
I have yet to talk to the person(s) at workplace who works with the
invoices and ask them if we can work with the current ERPNext system for
multi-currency.
Well outside of US in other countries, people are given rates in USD for
some international products. They may wish to pay for these directly using
USD. However the customers might also want to pay other parts of the
invoice in local currency. How will they go about doing that in ERPNext?
How to record the amount they paid? Such that we will have both amounts on
record… I was thinking maybe we would just put notes or descriptions in
the invoice as a workaround, if that’s possible.
The two amounts in different currency would be on the same invoice, because
they are part of one transaction. Of course we might be able to put them
in separate invoices if that’s better practice.
I’ve just been testing erpnext for a few days. Pardon me if I’m missing
something.
These are two excellent reasons to create two invoices, one for the products in USD, one for the products in local currency. You can then easily reconcile the two payments with the two invoices and your accounting books will be easy to understand for you and the tax authorities.
Hi, In your use case, at the time of making an invoice in your system, would you know definitely know how much of the invoice (or what parts of the invoice) will be paid in which currency?
Thank you Webingold, we probably would do what you suggest.
Yes we would know how much at the time of making the invoice, Deepak. Do
you have another way of completing the use case?
Which would actually bring me to another question, how would we go about
entering prices for each, because our prices are not fixed for each
product, and vary for each invoice.